The Default Market Offer – known as the reference price – is set by the independent energy regulator. It is a maximum annual price that can be charged by any retailer in NSW, South East QLD and SA for electricity standing offers.
While most of our market offers are more competitive than the reference price, what it does is provide a ‘like for like comparison’ for residential and small business customers to easily compare electricity market offers between retailers.
When browsing market offers in NSW, South East QLD or SA, you will see them compared against the reference price as a percentage (i.e. this offer is 10% lower than the reference price). This can provide peace of mind for energy consumers, as they have a benchmark when comparing different electricity offers.