REGULATED electricity prices in the ACT will rise by a maximum of 4.15 per cent from July 1.

The Independent Competition and Regulatory Commission’s final decision will apply to  customers on the standing offer, also known as the default market offer.

The ACT government says that this increase, if fully passed through, would amount to less than $1.50 a week for the average household and less than $6 per week for the average business on  annual electricity bills for 2023-24.

The government says that without the ACTs large-scale renewable energy contracts, the average household on the regulated standing offer would have faced electricity bills around $225 higher.

“Instead, the effect of our large-scale renewable energy contracts, in combination with the Commonwealth National Energy Bill Relief, means around two thirds of households will only see a $75 annual increase and one third of households will see their electricity bill decrease by $100 (for the average household using the standing offer),” the government says.

“Across the border in NSW, the average household electricity costs are expected to be $747 a year higher than in the ACT.”