THURSDAY 16 AUGUST, 2012 |
Regional NSW Power Bills Jump 154% In 7 Years
An investigation by Business Day has found the average electricity bill for a
regional NSW customer has risen by 154% since 2005.
According to The Sydney Morning Herald's business columnist, Michael West:
"The 'gold-plating' of Australia's power grid is exacting a far heavier toll on electricity customers in rural areas than in the cities.
Since 2005, the average bill for a customer in regional NSW has risen by 154 per cent to $2520. This compares with an average city customer's bill of around $1800."
Mr West says faulty
has played a role - power companies have been basing spending
decisions on their own forecasts of future consumption of electricity, but power
demand has been decreasing.
Research published by REC Agents Association (RAA), states over the last three
years electricity consumption in the eastern states' National Electricity Market
by 3.2 % .
The explanation may provide little comfort for households reeling from
continuing electricity bill shocks, particularly given recent research
indicating the escalating use of solar energy and energy efficiency are
contributing to reducing
wholesale power prices
Since the beginning of July this year, average regulated retail electricity
prices in New South Wales have jumped
11.8% to 20.6%
across different power supply regions. According to figures
from IPART, from July 1, Energy Australia residential customers could be paying
$364 more annually for electricity on average, Integral Energy customer $208
more and Country Energy residential customers will need to scrape up an
additional extra $427 a year.
For small business customers, average annual bill increases will be even
The latest power price pain may motivate more New South Wales households to turn
to solar power. According to Energy Matters, a 2kW solar
panel system installed in Sydney
can achieve savings of around $520 a year
and a larger system, even more. Similar savings can be gained elsewhere in the
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