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Simply Energy has promised customers in Queensland and South Australia a power price cut, while gas bills will be cheaper for NSW customers.

From August 1, household electricity bills will come down by 5.4 per cent in Queensland and 0.5 per cent in South Australia.

“We understand that the price of energy is front of mind for Australians, so we’re pleased to be able to deliver these reductions,” CEO Carly Wishart said on Wednesday.

“This is despite increases to network charges in South Australia and higher renewable generation costs.”

Though no cut to electricity prices has been announced for NSW customers, those with gas connections will have their bills slashed by three per cent.

The move follows similar cuts by Origin and AGL earlier in the month.

Ms Wishart said customers should take advantage of the fluctuating market.

‘We encourage competition and for Australians to compare their energy plans to ensure they are getting the best deal possible for their energy,” she said.