Great news for Victoria and New South Wales residents, as the price of power is expected to drop in the coming years.

CEO of the Australian Energy Market Commission, Anne Pearson says costs are coming down as renewable energy comes online.

“This year New South Wales consumers who are still on standing offers can save up to $300 by switching to the most competitive offer available,” she said.

Although New South Wales residents will be wishing they lived in Victoria now, with Ms Pearson stating that Victorians can save even more, $460 dollars on average.

So get searching on the most competitive deal to start saving!