ACTEWAGL have announced that the repeal of the carbon price legislation will means the price on carbon will be removed from electricity and gas bills as soon as possible and backdated to 1 July 2014.

“Any price reductions will be passed on to customers in full and backdated as required by law. We are continuing to liaise with the ACCC in relation to the carbon repeal and are updating our systems and processes so we can pass on in full any price decrease as quickly as possible once the new prices have been finalised,” said ActewAGL’s Acting General Manager Retail Tony Muckle.

The impact of the carbon repeal on ACT regulated electricity prices has been determined by the Independent Competition and Regulatory Commission (ICRC). The ICRC has estimated that the average ACT electricity customer will pay $228 less during 2014-15 now that the carbon price has been repealed. ActewAGL NSW electricity prices will also be adjusted to take into account any price decrease.

Before ActewAGL can determine the impact on 2014-15 gas prices, an approval of the gas network charges (without the price of the carbon component) must be provided by the Australian Energy Regulator. NSW gas price variations also need to be submitted to the Independent Pricing and Regulatory Tribunal.

ActewAGL promise to pass on any price reductions in full to our customers.