Energy Minister Martin Ferguson warned earlier this year that decisions of State and Territory Governments to attempt to hold back necessary electricity price increases would be “coming home to roost”. He wasn’t kidding.
Many home and business electricity customers have endured substantial price increases already this year – and it appears to be only the beginning.
TRUenergy customers in New South Wales, South Australia and Queensland have been slugged with increased electricity costs of as much as 20% as of last Sunday.
Origin Energy Managing Director Grant King has also recently warned retail electricity prices will soar soon, according to comments reportedly made to The Australian.
An article published on Adelaide Now yesterday states AGL is planning to increase household power bills next year in South Australia, due to a “significant increase in 2011 costs”.
The reasons for the increases are many – ageing infrastructure that needs replacing, compliance with greenhouse gas reduction schemes and programs to help support low income earners.
As the age of cheap fossil-fuel sourced electricity draws to a close, households are increasingly turning to renewable energy sources such as solar power systems to not only play a role in reducing household carbon emissions, but to minimise the impact of increasing electricity costs.
Generous solar rebates currently available mean households can install a system for just a few thousand dollars and in some instances, solar energy enabled homes actually make money for system owners through feed in tariff schemes.
However, with rebates and other incentive programs constantly changing, sometimes with little or no warning, and market forces at work that can also affect the level of rebate available, right now has often been the best time to make the switch to solar.
