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South Australian electricity prices at 24-month low

South Australian businesses are benefiting from a rapid decline in electricity rates, off the back of the cheapest wholesale electricity prices seen in 24-months.

The drop in electricity prices is a direct outcome of record renewable generation in South Australia throughout Q4 2023, particularly from wind and gas-fired power stations which make up a significant portion of the South Australian energy mix.

However, since the onset of the cooler months, South Australia's renewable sources have produced less and less, and this drop in generation has meant more supply required from the grid, triggering an increase in the market, which means rates have also started to increase.

Wholesale electricity pricing for South Australia May 23 - May 24


Source: ASX Energy

Timing is everything, don't let this opportunity pass you by

Timing is everything when it comes to managing your energy expenditure and with this upwards market trend set to continue, now is the right time to have an energy broker review your energy agreement to maximise potential savings.

By working with Choice Energy's expert team of energy brokers for South Australia, you'll be able to tap into a range of saving opportunities that may be available to your business, including:

  • Forward contracting or fixing in low rates now for future energy contract periods

  • Switch from a small market pricing (bundled) to large market (unbundled) pricing

Switch to large unbundled billing and save

By working with their dedicated energy broker from Choice Energy, Skala Bakery were assessed as meeting the criteria to move from a small to a large market contract, saving $42,000 in energy bills over a two year period.

Below is a graph showing indicative savings Choice Energy brokers are identifying for businesses eligible to switch from small to large market pricing based on the current South Australian wholesale market.*

SME to CI Graph web new

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Work with an expert energy broker to take control of your energy costs. Get in touch for an obligation-free energy review today by registering below or calling us on 1300 304 448.

*Indicative savings only. Typical savings based on energy reviews conducted during April 2024
where a business is spending more than $40,000 annually and on a small market agreement.

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