Simon celebrates falling electricity prices

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SIMON Corbell says the ACT’s electricity prices remain the lowest in the country according to the Australian Energy Market Commission’s 2014 Residential Electricity Price Trends report, released today.

“The report, which sets out expected price movements from 2014/15 to 2016/17, shows electricity prices in the capital are set to fall a further 7% in 2015/16 due to declining network prices,” Simon says.

“According to the AEMC, ACT retail electricity prices are cheaper than the national average by almost 30% despite the territory’s move to large-scale renewables, and prices continue to fall.

“The report also shows that the cost of the ACT’s renewable energy and energy efficiency schemes are only 6% of total electricity charges in 2015/16.

“To the end of March 2014, the 24,000 households that participated in our Energy Efficiency Improvement Scheme are already saving around $318.

“The decline in prices forecast by the AEMC and the recent entry of a second major retailer into our market shows that the hard work of reform is now paying off.” Mr Corbell concluded.

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