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 November - December 2020
Queensland remains the lowest priced state due to excess demand and lower marginal costs of production. Recent price volatility across all states is primarily due to a short-term price rally. Recent price volatility has been driven by higher spot pricing, as the market attempts to gauge the level of summer demand.
The Queensland price index remains around the level set back in 2011 and we recommend customers take immediate advantage of forward contract prices, out to 2023.
The price index for New South Wales, South Australia and Victoria is currently priced around 6c/KWh, offering significant savings and a great opportunity to forward contract.