ELECTRICITY prices are likely to rise by a modest 1.2 per cent from July 1, according to a draft determination by the Independent Competition and Regulatory Commission.

A response to the decision from ActewAGL points out this is “below the expected rate of inflation”.

The electricity provider’s general manager of retail, Ayesha Razzaq, says a 1.2 per cent rise would equal 44 cents a week, or $23 a year, for an average Canberra family using 8,000 kWh of electricity per year.

“ACT electricity prices are the cheapest prices in Australia and ActewAGL expects to remain a low priced energy provider in 2014-15,” Ms Razzaq adds.

“Electricity prices are made up of a number of components including network costs, operating costs, wholesale prices and government green schemes. The proposed price increase reflects minor adjustments across those components.

“Our focus remains on helping our customers manage their energy costs. For example, through our free Energy Saving House Calls, ActewAGL customers can have energy saving products like standby power controllers, door seals and energy efficient light bulbs installed in their homes.”