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).
Commentary for January - February 2021
The Energy Action Price Index shows live retail pricing from recent auctions conducted by Energy Action.
Index prices remain at the lower end of the of the current cycle though VIC index prices have moved to new lows. Prices for 2024 are now available in the markets and provide similar savings to 2023. These lower prices are assisted by low coal and gas prices and increased supply from renewables. As a result, electricity contracts out to 2024 represent good value.
The price index for NSW and SA is currently priced around 6c/kWh, while VIC and QLD are both priced at 5c/kWh. Current prices continue to offer significant savings and a great opportunity to forward contract. These savings can be used by businesses looking to invest in achieving Net Zero or RE100 goals.