The Australian Energy Regulator has declared that starting in July, the majority of households will experience a decrease in power prices, providing a welcomed relief amidst the ongoing cost of living crisis.

After enduring two years of steeply rising power prices, many Australians are poised to witness reductions in their electricity bills come mid-year. The Australian Energy Regulator’s announcement on Tuesday indicated that starting July 1st, a significant portion of households could anticipate electricity price decreases ranging from 0.4 to 7.1 percent. However, for certain residential customers, there may be slight increases, varying between 0.9 and 2.7 percent, contingent upon their geographical location. Similarly, while the majority of small businesses may enjoy declines in power costs ranging from 0.3 to 9.7 percent, some could encounter a marginal uptick of around 0.7 percent depending on regional factors.