Energy Action Price Index - Monitor and compare business electricity rates

 

In the Australian energy market, the forward price of electricity for medium to large users fluctuates from day-to-day. Energy Action’s Price Index (Business) (EAPI) provides clarity to the market encompassing pricing from energy retailers via the Australian Energy Exchange (AEX).

EAPI represents the average commodity price of retail electricity paid by Australian businesses based on a Standard Retail Contract (commences in 6-months and operates for 2½ years). EAPI is created from the lowest cost offers submitted by retailers via the AEX and reflects the cost of commodity electricity to commercial and industrial customers.

For more information about the Energy Action Price Index, read our Frequently Asked Questions (FAQs).

Energy Action has redefined the EAPI for South Australia. From 1st July 2018 onwards the Standard Retail Contract for South Australia will has been recalculated for 30 months duration commencing in 6 months’ time. This puts the calculation of the South Australian EAPI on the same basis as those for NSW, Victoria and Queensland which remain unchanged. For further information on this change please read our Frequently Asked Questions (FAQs).

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Commentary for May & June 2020 

 

  • The sharp decline from February 2020, in retail prices for Commercial & Industrial customers has begun to ease and moderately rise, in line with wholesale market price movements. Queensland retail prices continue to fall, however we expect prices to follow the trend in other states. Demand for energy remains the key factor in determining any further upward price movements, as demand increases in response to an easing of social restrictions. The timing for increases in operational demand remains uncertain.


  • Contract prices for Cal 2021 shows a consolidation pattern with support around $55/MWH in NSW, VIC and SA. Cal 2021 prices for QLD continues to drift lower towards $40/MWh. The general market trend should prevail and we expect this trend to begin consolidation in line with the rest of the NEM. Cal 2021 and 2022 prices continue to consolidate indicating we are approaching the end of the market downtrend. QLD remains the lowest priced state due to both lower operational demand and excess generation capacity. New South Wales continues to have the highest electricity prices for all calendar years. The current market conditions represent extremely good value for our commercial and industrial customers.


  • Energy Action’s auction platform and RFP procurement options allow our customers to benefit from greater price competition. We recommend our C&I customers never accept unsolicited offers from retailers or accepts an incumbent's offer, without asking us to benchmark the offer against the EAPI.