Australia Power Bills to Drop 10% as Renewables Surge

Australian households and small businesses in New South Wales and south-east Queensland will see energy bills fall by up to 10% from July, driven by record levels of renewable generation and battery storage that now meet nearly half of the nation's electricity demand. Australia has become the world's third-largest nation for utility-scale batteries, behind only China and the US. The drop comes via a reduction in the default market offer — the regulated price cap that sets the baseline for millions of customers.