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Property News

Queenslanders receive electricity boost

July 13, 2012

Queensland households will no longer be locked into strict contracts with power providers as electricity costs surge ahead of expected prices rises.

The state government announced the new law yesterday (July 12), which will protect Queenslanders in residential property from the inflation of energy costs from providers.

Under the new regulation, customers are able to cancel their power supply contract without receiving a termination fee as an early exit penalty on charges that have surpassed notified price increases.

Minister for energy and water supply Mark McArdle said the new law provides financial protection for residential electricity customers easing the monetary burden on Queenslanders.

Mr McArdle commented: "A climate of rising electricity prices and unscrupulous retailers trying to price gouge unsuspecting Queenslanders has made the Newman government more determined than ever to address the cost of living concerns.

"Banning early termination fees today takes our commitment to lower the cost of living a step further by protection new and existing market customers from excessive electricity price rises."

The new rules would enable customers to seek electricity supply from an alternative power provider amid rising costs and the increasingly competitive market.

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