The Queensland Competition Authority has released a report about the solar feed-in tariffs available in south-east Queensland (SEQ) from 1 July 2023 to 30 June 2024.
Solar feed-in tariffs are the prices that electricity retailers pay to customers who export surplus electricity from their solar photovoltaic systems to the electricity network. In SEQ, retailers set the amount that such customers receive for their exports.
Average solar feed-in tariffs decreased in 2023–24. For residential customers, the average single feed-in tariff was 4.9 c/kWh in the June quarter of 2024, down from 5.5 c/kWh in the September quarter of 2023. Retailers offered a wide range of residential single feed-in tariffs — for example, from 0.8 c/kWh to 8.0 c/kWh in the June quarter of 2024.
The highest feed-in tariff for residential customers was part of a two-part feed-in tariff — Origin Energy offered 16 c/kWh for the first 14 kWh a day, and Red Energy offered 16 c/kWh for the first 5 kWh a day. After that, the feed-in tariffs reduced to 5 c/kWh for Origin Energy and 8 c/kWh for Red Energy.
QCA Chair Professor Flavio Menezes emphasised that various retailers and electricity plans are available in SEQ, which customers can benefit from. Retailers offer different feed-in tariffs, supply and usage charges, discounts, incentives and recurring fees.
“Customers should not only look at the feed-in tariff of an electricity plan. The plan with the highest feed-in tariff will not necessarily result in the cheapest bill for everyone.
“Customers should also consider the supply and usage charges of a plan when they compare different plans. Those who don’t use much electricity and don’t export much electricity from their solar PV system, might be better off with a plan that has low supply and usage charges, even if it does not have a high feed-in tariff.
“If customers are home during the middle of the day, they might use most of the electricity their solar PV systems generate. For them, it may be better to focus on low supply and usage charges. However, if customers produce more solar power and export most of that electricity, then looking at a plan with a higher feed-in tariff may be worthwhile.
“Customers should also consider any other aspects of a plan, such as discounts or incentives, and whether there are any terms and conditions attached to the plan or feed-in tariff,” Professor Menezes said.
Retailers who had the cheapest retail electricity plans for residential customers in 2023–24, across a range of electricity import and solar export scenarios, were AGL, Alinta Energy, Ampol Energy, ENGIE, Origin Energy and Ovo Energy. However, feed-in tariffs can change over time, and these retailers may not offer the cheapest plans anymore.
“To get the best deal, it’s important to shop around. The QCA encourages customers with solar PV systems to compare retail plans by using the Energy Made Easy website,” Professor Menezes said.
The 2023–24 solar feed-in tariff monitoring report is available on the QCA website.
In regional Queensland, where there is limited competition, the QCA sets the feed-in tariff annually. For 2023–24, the tariff was set at 13.441 c/kWh.
Media enquiries: Cole Lawson Communications, 07 3221 2220.
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