WEDNESDAY 13 JUNE, 2012 |
NEWSFLASH: NSW Electricity Prices To Soar On July 1
The Independent Pricing and Regulatory Tribunal (IPART) has released its final
decision on New South Wales electricity price rises from July 1 - and for many households and
small businesses, the impact will be worse than previously
Average regulated retail electricity prices will increase between an average of 11.8% to 20.6% across different
electricity supply areas from the beginning of July.
EnergyAustralia customers will experience a 20.6% hike, translating to a jump
of $364 a year on an average residential customer bill and $472 per annum on average for its small business
Integral Energy customers will need to endure an 11.8% rise - an extra
$208 per annum on an average residential customer bill and $270 a year on an average small business customer bill.
Country Energy customers will be lumped with a 19.7% electricity price hike, meaning
households will need to find an extra $427 a year on average and a the average
small business a whopping $555 per annum.
The power pricing pain is not the first New South Wales residents and small
commercial enterprises have worn in recent years. In 2010/11 electricity prices
jumped 10% and in 2011/12, 17%.
The increases have been primarily driven by network costs, which account for
nearly half of the rise and the introduction of the Commonwealth Government’s carbon
price contributes the other half.
Green schemes such as incentives for wind and solar are only contributing .3% on
average to the increases.
industry is expecting additional interest from households and
small businesses seeking to buffer against this and future inevitable
electricity price increases by installing solar panels.
The Solar Credits rebate (up front discount) is still available for home and
business installations, and from July 1, businesses will also be able to benefit
from tax reforms
allowing an immediate substantial write-off of some assets,
including solar power systems.
Sydney & NSW
solar panel system specials
Other news for Wednesday 13 June, 2012
Return to main renewable energy news section
Other Energy Matters News Services