Victorian energy regulator proposes drop in default offer price to pass on clean energy savings

The Victorian Default Offer is a safeguard for those who can’t or don’t shop around, with 17 per cent of households on these plans.

The price drop is a result of state and federal renewable energy programs becoming cheaper for retailers.

These draft prices are still subject to change, and the final determination will be announced on May 24.

“Who would have thought electricity prices would be the bill to break the price-hike trend, but that’s exactly what the regulator is proposing,” financial comparison service Canstar data insights director Sally Tindall said.