CHOICE is calling for urgent reforms to Australia’s ‘broken’ energy system that has seen electricity prices jump 50% in the last five years.
The consumer group says further rises are expected mostly due to increasing network costs and coal and gas prices.
CHOICE partnered with the Australian Industry Group, Brotherhood of St Laurence and the Energy Efficiency Council to commission a report providing options for maximising downward pressure on electricity prices.
One of the issues identified relates to reducing ‘super peak’ demand, which occurs on just a few days a year, but drive around 25 per cent of the cost of electricity bills.
Among the recommendations in the report:
– Developing a proposal to set electricity distribution network companies minimum targets
– Assisting consumers to improve their energy efficiency
– Stronger rules to protect consumers
– The creation of a consumer advocacy body
– More robust electricity network regulation
“Together, we have said that governments must take action now to reform the electricity market. Some reforms can be implemented quickly and some will take time, but if we don’t start the process now we will lock in billions of dollars in unnecessary infrastructure and higher bills for years to come,” says a statement from CHOICE.
The organisation is urging Australians to join its “Take the Power Back” campaign.
As electricity prices continue to rise, increasing numbers of Australians have found another way to reduce electricity costs – installing solar panels.
Solar energy solutions provider Energy Matters conservatively estimates a 4kW solar panel array will generate around 16kW hours of electricity a day on average. Including the cost of a solar power system consisting of quality components and fully installed the company, this translates to an electricity cost of just 5c – 6c per kilowatt hour over the life of a system – and less in some cases.
