Australian Electricity Price Rise Roundup

We’ve reported on Queensland, South Australia and New South Wales’ recently announced electricity price rises – now it’s the A.C.T., Victoria, Western Australia and Tasmania’s turn.

Here’s how the picture looks across Australia for electricity price hikes in the next few months:

Queensland

The situation in Queensland is complex – while the main residential tariff will remain unchanged, a large jump in Tariffs 31 and 33 will occur and combined with other factors, will translate to a reported average 16% rise for households and higher for farmers from July 1. Read more.

New South Wales

Average regulated retail electricity prices in New South Wales will jump 11.8% to 20.6% across different electricity supply regions from the start of July. Read more.

A.C.T

In early June, the A.C.T’s Independent Competition and Regulatory Commission released its final report on retail prices for franchise electricity customers, approving a 17.74% increase in retail electricity prices from July 1. Read more.

Victoria

Across Victoria’s five distribution areas and depending on the retailer, electricity prices will jump between 8.2 and 14.8% says The Age. Read more.

Tasmania

Electricity prices for residents of the Apple Isle will reportedly jump approximately 12%. Read more.

South Australia

Last Friday, the Essential Services Commission of South Australia (ESCOSA) announced electricity price hikes of 18 per cent from August 1. Read more.

Western Australia

Residential customers in Synergy’s network can expect to pay an extra 12.6% for their electricity supply from July 1. Read more.

Upcoming increases in the cost of electricity are due to a number of factors; with a significant chunk attributable to rising network costs in some cases. Australia’s carbon tax will also play a role; however 90% of households will receive carbon price compensation; with around two-thirds being fully compensated – but only for this component of the increases.

Recent and looming price hikes are triggering additional interest from households wanting to make the switch to solar energy as a way of reining in their electricity expenses. Even an entry-level 1.5kW rooftop solar panel system can put a major dent in a family’s electricity bills and a 4.9kW system in many cases can wipe out those bills altogether.

Energy Matters is currently running a major solar power system sale to help businesses and households install solar panels; slashing prices on fully installed systems by up to 30%. System pricing can be secured from as little as 5 – 10% deposit and a payment plan is also available.