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Electricity prices up

By 5 June 2009 7

The Independent Competition and Regulatory Commission has announced that they’re approving an average electricity price rise of 6.42% next year.

    ‘Effectively, real electricity prices will rise by approximately 2% in 2009-10’, Mr Paul Baxter, Senior Commissioner said today. ‘The increase in price is due mainly to an increase in distribution costs, although this has been partly offset by a reduction in the wholesale price of electricity’…

    ‘The price increase approved by the Commission compares favourably to recent increases in NSW where prices were increased by 18%, 21% and 22% for the three major retailers,’ Mr Baxter said.

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7 Responses to Electricity prices up
#1
che3:25 pm, 05 Jun 09

So those people with solar panels who haven’t signed up to the Feed in Tariff contract as per Sundays CT on 31 May 2009 (257 of 688 people haven’t signed up) should make sure their contract is effective from 1 July 2009 so that they get the higher KWh rate.

#2
monomania5:53 pm, 05 Jun 09

And so the rest of us can pay through the nose for it. Lets hope not too many people stick these things on their roofs because of all the reasons our electricity bills will rise this is the one that will make them rise the fastest for the amount of good they are supposed to do.. That is least cost effective at reducing carbon emissions and one area where the entire cost is transferred from those doing it to the rest of us.

The feed-in tariff rate will remain at 50.05¢/kWh until sometime next year when it needs to be reset by the minister, currently Andrew Barr. What will change is that the Federal Government subsidy of $8000 is dropped. The most useless, a 1kW of generator which got subsidy of about $9800 will get about $4900. So get in quick rip us off another $4900 and ha ha save us from global warming.

#3
sepi9:29 pm, 05 Jun 09

You make it sound pretty good – why haven’t you got one then?

I have thought about this, but I’m too lazy to organise it in time.
Is it true that you can actually make money if you get enough panels connected?

#4
VYBerlinaV8_the_one_10:12 am, 06 Jun 09

Wait until we start getting viable electric commuter cars that we charge at home (5-10 years?), then you’ll see electricity prices go through the roof.

#5
GregW4:03 pm, 06 Jun 09

Electricity prices are still ~25% lower in the ACT than NSW. With no meaningful amount of generation capacity here, it is the same power. There’s still plenty of room for many households to take up the feed-in tariff offer and to still have some of the cheapest electricity in the world.

#6
caf5:15 pm, 06 Jun 09

vy: The Mitsubishi i-Miev is a plug-in-at-home car that sounds like it’ll be here a lot sooner than that.

#7
monomania5:29 pm, 06 Jun 09

GregW said :

Electricity prices are still ~25% lower in the ACT than NSW. With no meaningful amount of generation capacity here, it is the same power. There’s still plenty of room for many households to take up the feed-in tariff offer and to still have some of the cheapest electricity in the world.

The actual electricity price is only one part of the bill. What is also important is how much the connection charges are and for some people the price of off peak.

If too many people require ActewAGL to buy their electricity at 50¢/kWh when Actew can get it into its grid at 9¢/kWh then everybody’s electricity will go up including householders with feed-in tariff solar.

I regard it as somewhat bizarre that people are prepared to boast about ripping the rest of us off. Hey I’ve just discovered a great way to get into your wallet and I’m flat out trying to convince others to do the same.

GregW who do you think will be paying for this stupidity.

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