TUESDAY 03 JANUARY, 2012 |
Victoria's Electricity Prices Jumped 10% On January 1
For Victorian households already struggling to keep up with skyrocketing
electricity costs, 2012 hasn't started well - and Victorians won't be suffering on their own for long.
, electricity prices in Victoria jumped 10% on average on January
1, with some of the additional charge for simply being connected to mains power.
The pain won't end there - another hike of around 10 per cent is likely to follow on July 1,
when Australia's carbon tax comes into play.
While many households will receive compensation under the carbon tax package,
whether they will save those benefits to go towards bigger
remains to be seen. There are concerns the compensation may go
towards other items, including purchasing power hungry appliances - only adding
to a household's woes.
Beyond the recent 10% jump and the one to strike mid-year, the news continues to
be grim with residential electricity prices in Victoria predicted to increase by
a massive 33% over the next few years; including the two slugs of 10%.
Victorians won't be alone in their suffering. A report from the Australian
Energy Market Commission (AEMC) estimates residential electricity prices
throughout Australia will jump
by 37 per cent
in nominal terms on average by 2014.
The strain of the impact of rising electricity prices has already begun to show
in Victoria. According to a report released in December by the state's Essential Services Commission (ESC),
the number of domestic electricity disconnections rose from 0.59 per 100 customers
to 0.77 per customers per 100 customers in 2010-11,
Aside from implementing simple energy efficiency strategies to reduce the shock
associated with ballooning power bills, it's expected increasing numbers of
Victorians will turn to installing solar panels.
According to information posted on national solar solutions provider Energy
Matters' web site, a 1.9kW solar
power system installed in Melbourne
can provide electricity bill savings of
around $688 a year.
With the cost of a
solar power system
plummeting 70% in recent years, some household are
electing to install larger arrays; wiping out their electricity bills
Energy Matters is currently running New
Year's solar specials
to help more Victorian households and households
throughout Australia take greater control over their power choices and slash
their electricity bills.
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