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 yesterday.
Minister for the Environment, Simon Corbell, said 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.
“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,” Mr Corbell said.
“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.”
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“To the end of March 2014, the 24,000 households that participated in our Energy Efficiency Improvement Scheme are already saving around $318.”
The ACT Government continues working jointly with other jurisdictions to implement a significant package of energy reforms that will help reduce price pressures in the long term.
The ACT was one of the first jurisdictions to implement the National Energy Customer Framework in 2012, which encourages energy retailers to enter the ACT market.
“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 said.
The 2014 Residential Electricity Price Trends report is available via the AEMC website www.aemc.gov.au
(Simon Corbell Media Release)