Standing Offer Rates for Residential and Small Business Customers
For period 1 July 2023 to 30 June 2024
Regulations require us to provide standard offer rates for residential and small business customers who would receive electricity supply from us under the terms of the Standard Retail Contract. Qualifying customers are:
- those who have moved into a premise and receive supply from us, but have yet to contact us; or
- our existing customers on the Market Retail Contract who ask us to switch them to the Standard Retail Contract.
Our standard offer prices are the same as those available to our customers whose preference is to take wholesale spot energy under our Market Retail Contract.
Default Market Offer Prices
Residential and small business customers located in certain distributors’ service areas are covered by conditions of the Default Market Offer Prices set by the Australian Energy Regulator.
We meet our obligations to our customers by applying adjustments to their standard offer prices on their transfer-in anniversary date. These adjustments only apply to qualifying customers who:
- are on the network tariffs listed in the table below; and
- do not have meters that measure energy injected into the grid from their premises.
Our standard offer rates for customers located in the relevant distributor’s service area are:
All rates are inclusive of GST.
At the end of a twelve-month period, we calculate a customer’s:
- Usage Reference ($), which is the Usage Rate above, time their total usage
- Daily Reference ($), which is the Daily Rate above, time the total number of days
Where a customer’s twelve-month period covers multiple financial years, we pro-rate their Usage Rate and Daily Rate.
We then set a DMO Reference which is the higher for the calculated Usage Reference or the Daily Reference.
If the customer’s total cost over the preceding twelve-month period is less than the DMO Reference, then the customer is charged the difference between the two figures.
If the customer’s total cost over the preceding twelve-month period is greater than the DMO Reference, then the customer is credited the difference between the two figures.
Updated November 25, 2023