The end of financial year sales are upon us with many Australians planning to take advantage with a good deal, but in previous years those savings have been wiped out as electricity retailers announced their end of financial year price changes.

Last year, headline double digit price increases in most states added hundreds to the average household electricity bill. But all that should change on July 1, when consumers in most states should expect to see savings in their electricity bills for the first time in years.

Network pricing decisions just released by the regulator mean many Australians should see the network cost part of their bill fall by up to $40 a year. South Australians have already seen a $180 a year decrease in network costs over the past two years and distribution networks prices were reduced in Victoria earlier this year.

Gas prices are also trending down and as Energy Minister Josh Frydenberg stated recently the wholesale power prices in the National Electricity Market have fallen nearly 30 per cent, year on year.

These falling supply chain costs in the energy sector are welcome news, but it only makes a difference to consumers if energy retailers such as AGL, Origin, and Energy Australia make the right decision to pass these lower costs through to their customers in the form of lower prices and lower bills.