In NSW, SA and South-east QLD, the CovaU Basic is called Default Market Offer (DMO). Your new rates will appear on the first bill you receive after 1st of July.
The Default Market Offer has been introduced by the Federal government in July 2019 to reduce the standard offer prices for eligible residential and small business customers in NSW, SA and South-east QLD. It acts as a regulated price cap for electricity standard offer customers on flat tariffs.
The DMO is the annual maximum total bill amount (a reference price) that energy companies can charge for the standard offer prices based on a default average usage amount. The Australian Energy Regulator determines the reference prices and the average annual usage level for each electricity distribution zone, which they will review annually.
Note: The gas standard offer prices are not governed by the DMO. Energy companies are free to set reasonable supply and usage charges for the gas standard offers.
