Ministerial Statement

Energy Prices

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy, Minister for Small Business) (14:02): I seek leave to make a ministerial statement.

Leave granted.

The Hon. A. KOUTSANTONIS: I am disappointed with the public comments made by some energy retailers that they will not pass on the full amount of savings to South Australian households as approved by the Australian Energy Regulator. As I have stated, the government welcomes the decision of the national regulator which recognises the need to provide power bill relief to South Australian households. The decision will see power bills for South Australian households reduced by an expected $188 in 2015-16 on average.

Unfortunately, AGL, Origin and EnergyAustralia are claiming a number of factors will not allow for them to provide the full amount of the savings. I disagree and urge them to do the right thing by South Australian households.

I encourage South Australian households to shop around for the best retail offer that meets their requirements to ensure the benefits of these price reductions are passed on by retailers. A recent report by the Australian Energy Market Commission found that deregulation of the electricity market is increasing competition among retailers and providing cheaper electricity prices for South Australian householders.

Mr Tarzia interjecting:

The Hon. A. KOUTSANTONIS: The best market offers are available at www.energymadeeasy.gov.au to make sure your households receive the maximum benefit. The Australian Energy Market Commission analysis found South Australians can save up to $400 a year on electricity bills by shopping around for a better offer as a result of increased competition in the market.

The national regulator's Energy Made Easy price comparison website provides an independent service to assist customers in selecting a retailer that can save them money. The Energy Markets and Programs Division of the Department of State Development will continue to monitor whether retailers are passing on the reductions, and I intend to update the house at a later date.

Members interjecting:

The SPEAKER: The Treasurer is called to order, as is the member for Hartley for an interjection earlier in the ministerial statement.