Electricity prices set to fall after AER determination

Published 30th April, 2015 in Infrastructure

The independent Australian Energy Regulator (AER) 2014–19 Network Revenue Determination will result in electricity prices falling.

electricity poles stand high on open road

The AER sets the amount of revenue electricity networks can charge their customers regardless of who owns the network.

Anthony Roberts Minister for Industry, Resources and Energy said the government shares the objective of the AER "The NSW Government shares the objective of the independent AER in ensuring a safe and reliable supply of electricity, at the lowest sustainable cost for the State’s households and businesses.”

The network revenue determination means NSW residents will receive the following average annual reductions on their electricity bills in 2015/16:

Network distribution area: Ausgrid average saving on a household bill: $165
Network distribution area: Endeavour Energy average saving on a household bill: $106
Network distribution area: Essential Energy average saving on a household bill: $313

NSW small business customers will also receive an annual reduction on their electricity bill in 2015/16:

Network distribution area: Ausgrid average saving on a small business bill: $264
Network distribution area: Endeavour Energy average saving on a small business bill: $152
Network distribution area: Essential Energy average saving on a small business bill: $528

Customers will also receive a further average $23.00 reduction on their bills because of lower network charges for Transgrid.

Published 30th April, 2015 in Infrastructure