Energy regulator suggests decrease in benchmark prices

There's no popping of champagne corks with news today of some likely moderate falls in electricity prices because people who are struggling say they should come down so much more. Regulators are proposing price cuts of up to 7 percent for some and increases for others. The Australian energy regulator and its Victorian counterpart this morning released draft default offers that will apply from mid-year. Consumers across Victoria, South Australia and Sydney are set to have their bills cut while those in rural New South Wales and southeast Queensland are in store for modest price rises.