Victorian default offer electricity prices fall 5 per cent

Assumed electricity prices to Victorian households will be 5 per cent lower than last year.

Victorian default offer (VDO) prices were announced on Monday and the state Essential Services Commission said average default offer prices would fall by 5 per cent from July 1.

“VDO is a safety net; better prices may be available,” iSelect spokeswoman Sophie Ryan said.

“With market offers often priced below the reference rate, now is the time for households to use the price reset to shop around and see if they can go further.”

More to come