Origin Energy Power announced on Tuesday that it would cut tariffs for customers in New York, South Australia and Queensland by as much as 4 percent starting July 1.
The Australian newspaper reported that on the first day of the next fiscal year (July 1), the basic electricity price for), Origin Energy's Queensland home users will fall 1.3 percent, and that for small business users will fall by 4 percent. Home and small business prices in South Australia will be cut by 1 percent and 1.4 percent, respectively.
Origin Energy will bear an additional 3 percent of the actual cost of electricity in the new state, which will keep electricity prices stable in the new state.
Origin Energy said Tuesday morning it would freeze electricity prices in the new state and the capital district, but gas charges for home and small business users in the new state would fall by 3 percent and 4 percent, respectively.
Briskin (John Briskin), general manager of Origin Enegry Retail, said the company would take more aggressive price cuts if Congress could resolve the impasse in its energy policy. He called on industry and the government to "persevere" to ensure that the coalition's national energy security plan was fulfilled.
"We believe that if we can agree on a long-term energy policy that encourages timely investment in new energy to replace the country's aging power stations, we can offer lower electricity prices to Australian households and businesses," he said.
The government says the national energy security scheme could save households 300 yuan a year in electricity bills and save more for small businesses.
Some members of the coalition are sceptical of the national energy security plan, arguing that a compromise to the Labour Party and a consensus on energy policy would deprive the government of a powerful weapon in the election.
Some lawmakers want the government to step up its intervention in the electricity market, including funding to build a new coal-fired power station.
'Origin Energy,' said Tony Pasin, a member of the South Australian Liberal Party, said that the reduction of electricity prices by Origin Energy was a result of the fierce competition, and he expects other utilities to follow the initiative of Origin Energy, "In the case of a huge electricity price gap, I think that Australian power customers will not remain loyal to the original company.".
Origin Enegry was the first company to announce a reduction in electricity tariffs from July 1st. This is the first time since 2015 that the company will not raise its electricity bill in the middle of the year.