Promising lower electricity prices is a common refrain from our politicians, but it feels like we don’t often see it come to fruition.

One electricity company will deliver an actual cut to prices from July, with Origin Energy promising to reduce their rates.

The retailer will cut power costs by an average 5.6 per cent, or about $125 a year.

The move comes following falls in wholesale power prices and network costs, with the reduction being passed on, in part, to both households and businesses.

Last week, Australia’s energy regulator ruled that network charges had to fall, with SA Power Networks’ charges estimated to fall by an average of $40 per year.

Other retailers are yet to announce any changes to their pricing.

 

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