Retail gas prices will be deregulated in NSW from July 1. According to the NSW Government, removing gas price regulation will create greater competition in the market which may bring gas prices down and help with the cost of living.
The Government says the removal of gas price regulation will have implications for a small proportion of NSW customers; eight in ten homes and businesses have already moved away from a regulated gas price to a market price, where the retailer sets their own gas prices.
The Independent Pricing and Regulatory Tribunal (IPART) has been appointed as the gas market monitor and will report annually on gas prices and competition in the market.
Energy & Water Ombudsman NSW Janine Young encourages NSW energy customers to check if they are on the best energy deal or offer by contacting their retailer. If you aren’t happy with their offer consider switching to a new provider by comparing offers on the Australian Energy Regulator’s free and independent Energy Made Easy tool. For further assistance, see our comparing energy offers checklist, or contact us for independent advice.
