Origin’s electricity prices in Victoria will fall by an average of 11 per cent from 1 January 2021 for residential customers on variable rate plans, saving an average Victorian household approximately $186 on their annual electricity bill. [i] The reductions will see Victorian electricity prices fall to their lowest level since 2016.

 

“Following what has been an incredibly difficult year, it is good to be able to pass on lower electricity prices for our Victorian customers and hopefully provide some welcome hip-pocket relief heading into the new year,” said Jon Briskin, Origin Executive General Manager, Retail.

“Prices are falling due to a significant reduction in wholesale electricity costs and network costs, which make up a large share of a customer’s bill.”

There is also relief on the way for Origin’s small business customers on variable rate plans, many of which have been severely impacted by the pandemic, with a reduction of 13 per cent on their electricity prices. This is equivalent to savings of approximately $576 on an average annual electricity bill.[ii]

Natural gas prices have not changed for the past two years but will increase mainly due to higher wholesale gas costs. From 1 January 2021, natural gas prices for residential standing offer customers will increase by 2.7 per cent, which amounts to an average annual bill increase of $34.[iii] For small business customers on standing offers, prices will increase by an average of 4.2 per cent, or approximately $160 on an average annual bill [iv].

“For the majority of Origin’s natural gas customers who also have their electricity with us, the increase in gas prices will be well offset by the significant decrease in their electricity prices,” added Mr Briskin.

“Even with lower electricity prices heading into the new year, we know that many Victorian homes and small businesses will continue to do it tough, and we will keep supporting them and providing assistance with their bills.

“Any customer that stays in touch with us about their financial difficulty will be protected from disconnection or default listing until at least 31 March 2021 and potentially beyond.”

Origin continues to support customers through our Power On program that provides customers with personalised payment plans, home energy efficiency advice and referral to financial counsellors. Customers can find more information about payment options and assistance on Origin’s website.

Summary of Origin price changes to take effect in 2021 for customers on variable rate plans

 

 

Electricity

 

Natural Gas

Residential customers

 

-11 per cent (-$186) i

+ 2.7 per cent (+ $34) iii

Small business customers

 

-13 per cent (-$576) ii

+ 4.2 per cent (+ $160) iv

 

[i] Weighted average decrease based on Origin small business customers on all tariffs and variable rate products in Victoria (excluding customers on fixed rate plans) with average annual consumption

[ii] Weighted average change based on Origin residential customers on all tariffs and variable rate products in Victoria (excluding customers on fixed rate plans) with average annual consumption

[iii] Weighted average change based on Origin small business customers on all tariffs and variable rate products (excluding customers on fixed rate plans) with average annual consumption

[iv] Weighted average change based on Origin small business customers on all tariffs and variable rate products (excluding customers on fixed rate plans) with average annual consumption


Contacts

Media
Stuart Osbourne
Ph: +61 427 586 401