Gold Coasters could save up to $400 per year on their electricity bill with increased competition in the local market, the State Energy Minister says.
It comes as a second electricity retailer, Mojo Power, enters the small business market here in South-East Queensland.
Mojo Power says it means that locals will be able to access the same wholesale rates experienced by those living over the border in New South Wales.
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QLD Energy Minister Mark Bailey said Mojo Power entering the local market was an early sign that the government’s plans to de-regulate retail electricity prices would be good for our hip pockets.
“Mojo brings to South-East Queensland a completely different business model than we have seen before, offering discounted prices under a subscription-based service,”said Minister Bailey.
“We are encouraging South-East Queenslanders to take advantage of of the full benefits of a deregulated marketplace,” he said.
Minister Bailey added that the government would be providing extra support to help older and other “vulnerable” customers take advantage of the new options.
Mojo CEO and Co-Founder James Myatt said they’ve already had thousands of enquiries from Queenslanders wanting to sign up, and believed Mojo would be a real game changer for Gold Coasters.
“We are a retailer absolutely aligned to the consumer’s desire to pay less for electricity,” he said.