$80 a year to come off electricity prices

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THE ACT Independent Competition and Regulatory Commission has released its final decision on retail prices for small electricity customers for 2015-16.

“The Commission’s decision will decrease the average price of electricity for small customers on standard retail contracts with ActewAGL Retail by 4.58 per cent from 1 July 2015”, said Senior Commissioner Malcolm Gray.

“For our typical average residential customer consuming about 8,000 kWh per year, this translates to a decrease of $80 in their annual bill or about $1.53 less a week,” Malcolm said.

The main drivers for lower retail electricity prices are a substantial fall in network costs, which are determined by the Australian Energy Regulator, and a reduction in energy purchase costs flowing from lower prices in the wholesale electricity market.

The Commission has released a report setting out its final decision which is available on the Commission’s website at icrc.act.gov.au.

In response ActewAGL says this price reduction is a result of a decrease in network charges and lower wholesale energy purchase costs.

“While we’re seeing a decrease in electricity prices, we’re still here to assist our customers with further ways to save, particularly coming into the winter months,” General Manager Retail Ayesha Razzaq said.

“We have a range of energy saving programs and initiatives designed to help customers manage their energy costs, like our free Energy Saving House Calls program and free LED bulb replacement program.”

[Photo: “???????? ??????” by Outcaster – Own work. Licensed under Public Domain via Wikimedia Commons.]

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1 COMMENT

  1. Where’s your coverage of the fact that the ACT Government announced today that they will still be hoiking our rates bills, but won’t be adjusting stamp duty completely for 20 years?

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