Changes to prices

6 June 2024

Our prices are changing for a group of residential and small business customers on standard retail and market retail contracts.

For more information, please read our FAQs below.

Victoria NSW, SA, QLD and ACT

FAQs

When are my prices changing?

Customers who are on a fixed price promise plan will not have a price change during the fixed price promise period specified in their market retail contract. Customers will be notified in writing of any price change that will apply outside of the fixed price promise period before it takes effect.

Looking for some energy savings tips to help manage your usage? Visit Living Energy.

Looking for information on your account? Register and login to MyAccount.

What is a market retail contract?

A market retail contract contains minimum terms and conditions as well as other specific terms and conditions relevant to your offer, such as pricing, benefits and duration of contract. This contract has different terms and conditions to a standard retail contract.

What is a standard retail contract?

A standard retail contract contains a set of regulated terms and conditions. Our pricing under a standard retail contract must be no higher than the Default Market Offer in NSW, SA and QLD and equal to the Victorian Default Market Offer in VIC. This contract has different terms and conditions to a market retail contract.

How will I be notified about the price change?

We will notify you in writing in advance of any change to your energy prices.

What if my bill covers a period before and after the rate change?

All rates and charges will be detailed on the bill. Your bill will be calculated with rates for the billing period prior to the price change date and with new rates for the billing period after the price change is effective.

How much will my bills change by?

The changes in your electricity and gas bills are influenced by factors such as your consumption, chosen energy plan and the distribution area for your residence or business. The letter/email we issue you regarding your changes will display the rates you are currently billed on and the ones they are being changed to.

Why are my energy prices changing?

We typically review our prices every year in line with movements in our costs of supplying energy to you.

What makes up my energy prices?

Wholesale Costs

Energy retailers incur costs when they purchase electricity and gas from generators and producers to retail it to customers.

Network Costs

Network costs are the costs of transporting electricity and gas to your house. These costs include the cost of building, maintaining and operating the natural gas pipelines and electricity poles and wires that transport energy to your home or business.

Environmental Costs

Environmental costs are incurred by energy retailers to comply with government programs designed to provide incentives for energy efficiency and to support the development of renewable electricity.

Retail Operating Costs and Margin

Your electricity and gas prices include retail operating costs, including managing billing and payments and for the full range of customer services we provide, and a retail margin.

I’ve got solar. Are feed-in tariff (FiT) rates changing?

We will notify you in writing in advance of any changes to your solar feed-in tariffs.

What information is available to help manage my energy bills?

For information on how to manage your usage and energy saving tips please visit Living Energy.

What support does Red Energy offer customers finding it difficult to pay?

Red Energy offers a range of options to assist customers who are facing payment difficulties. See here for our assistance options.

Who can I contact if I have any questions?

Phone 131 806
Monday to Friday 8.00am to 8:30pm. Saturday 9.00am to 5:30pm (AEST/AEDT) or to make an online enquiry visit our website.

Victoria

What is the Victorian Default Offer?

The Victorian Default Offer is determined annually by the Essential Services Commission and regulates standing offer prices for electricity in Victoria sold to domestic (residential) and small business customers on a standard retail contract.

For most customers who are on a market retail contract, the Victorian Default Offer acts as a comparison price. Energy retailers must compare their market retail offers to the Victorian Default Offer prices when advertising.

You can find the Victorian Default Offer for 2024-2025 here.

How can I find information on the Victorian Default Offer?

For more information on the Essential Services Commission and the Victorian Default Offer please visit here.

When will my electricity prices change?

For customers on a market retail contract, your electricity prices will only change once a year unless otherwise permitted by the regulations. This usually occurs on or around 1 August each year.

For customers on a standard retail contract, your prices will only change once a year for electricity unless stipulated otherwise by the regulations. This usually occurs on or around 1 July each year.

Are my concession entitlements changing?

No. There are no changes to concession entitlements.

What information is available to help manage my energy bills?

For information on how to manage your usage and energy saving tips please visit Living Energy.

Where can I find more information on concessions and government rebates?

Each State Government provides a variety of concessions and rebates. For more information click on the below links

• Victoria – Concessions and Rebates

NSW, SA, QLD and ACT

Our prices are changing for a group of residential and small business customers on standard retail and market retail contracts.

What is the Default Market Offer?

The Default Market Offer is a maximum electricity price that retailers can charge customers on standard retail contracts and is set by the Australian Energy Regulator for customers in NSW, SA and QLD.

The Default Market Offer also acts as a comparison price for customers who are on a market retail offer.

You can find the Default Market Offer prices for 2024-2025 here.

When will my electricity prices change?

The Australian Energy Regulator (AER) conducts an annual review of the Default Market Offer (DMO) on 1 July annually. Around this time, we will also be reviewing our variable electricity and gas rates, however, rate changes may occur at different times. We will advise our customers of any changes to their rates prior to their occurrence via letter or email.

Are my concession entitlements changing?

No. There are no changes to concession entitlements.

Where can I find more information on concessions and government rebates?

Each State Government provides a variety of concessions and rebates. For more information click on the below links

• NSW – Concessions and Rebates
• SA – Concessions and Rebates
• Queensland – Concessions and Rebates
• ACT – Concessions and Rebates