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In welcome news, from today tens of thousands South Australia households and small businesses will be paying up to 12 per cent less for their electricity, with hundreds of thousands of others across the state also benefiting from more modest reductions in their electricity bills.

“Some of the 80,000 households and businesses on standing contracts in South Australia will be the biggest winners from today with potential savings of hundreds of dollars per annum as result of the introduction of the Default Market Offer,” said Minister Energy Dan van Holst Pellekaan.

“The Australian Energy Market Commission (AEMC) has also found a four per cent reduction in the price of electricity for households on the media market offer delivering a savings of $80 per annum on a $2,000 bill.

“It’s good news that electricity prices have turned the corner after surging increases in power prices in the recent past lumbered South Australians with some of the most expensive electricity in the world.

“Families who take up the $6,000 home battery subsidy and low interest loan for new solar panels can make even larger savings on their electricity bills.

“The increasing number of retailers in the South Australian market has made it all the more worthwhile for households and small businesses to do a bit of research on where they can find the best deal.

“The recently released AEMC report into electricity prices found some South Australian households could save $760 simply by switching from the median standing offer to the lowest market offer.

“People need to shop around to get the best deal; a simple phone call could save you plenty on your electricity bill.

“Low income households also need to investigate the SA Concessions Energy Discount Offer (SACEDO) which is offered through Origin Energy and available for all South Australian Energy Concession recipients.

“Low income households could save up to $585 off their annual energy bill under the 20 per cent discount deal.

“There is a great deal more to do which is why the Marshall Government will continue to roll out our policies to drive down the price of electricity for every household and business, including increased interconnection, our home battery scheme and grid scale storage.

“The SA-NSW interconnector will save households an average $66 per annum and energy intensive small businesses thousands of dollars per year.”