Loading

Queensland businesses will see a 1 per cent reduction in base prices for electricity, while businesses in South Australia and NSW will see a small 0.3 per cent and 0.1 per cent fall, respectively.

But all AGL gas customers in NSW and South Australia will see an increase in their rates.

Small businesses in NSW will see a 2.5 per cent jump in gas prices, while homes will experience a 1.8 per cent rise in gas.

For South Australian households gas prices will increase by 2.1 per cent, while businesses will see an increase of 4.6 per cent for gas.

There will be no change in gas prices for any Queensland customers.

AGL said that the price cuts were "set against rising network and green costs", referring to rising costs associated with government schemes such as the renewable energy target and energy efficiency measures.

Victoria was not included in AGL’s latest price changes as the state brings in new pricing structures separately from January 1.

AGL's largest competitor, Origin, also announced its forward prices for 2018 earlier this week, deciding to cut or put on hold all gas and electricity prices for both residential and business customers.

This was the first time Origin hasn't raised prices since 2015.

Retailer price cuts minimal, say consumer groups

Consumer groups voiced some disappointment in both Origin and AGL's forward price rates for electricity and gas.

Energy Consumers Australia's chief executive Rosemary Sinclair said it was notable retailers are now cutting electricity rates, even though if they are small reductions.

"We see the announcement as a significant turning point, even if the figures are at the low end of cuts," Ms Sinclair told Fairfax Media.

"It's that it's a tipping point that really matters."

Consumer choice group Canstar Blue's Simon Downes said that while it was "good to see electricity prices going in the right direction, you can't help but be underwhelmed by this week's announcements by Origin and AGL".

"Energy customers have been copping huge price increases over the last couple of years and with the wholesale electricity market now more stable, households would have been hoping for more significant price reductions," he said.

"I would expect greater price reductions from other retailers. If your retailer isn't cutting prices significantly this July, it might be time to find another retailer."