Canberra electricity bills to rise while rest of Australia pays less for power | The Canberra Times

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Electricity bills in the ACT are expected to rise by $77 over the next three years, while bills fall by the same amount nationally. The Australian Energy Market Commission Residential electricity price trends report found electricity prices would rise in the ACT by $222 between 2021-22 and 2022-23 before falling by $145 in 2023-24. The rise in the ACT will be driven by increasing wholesale costs and the cost of the large scale feed-in tarriff schemes in the territory. The average annual power bill in the ACT is predicted to be $2004 in 2020-21, $2103 in 2021-22, $2226 in 2022-23, and fall again to $2081 in 2023-24. Meanwhile, cheaper renewable energy is expected to flow to consumers nationally, which will mean the average Australian electricity bill will be $77 less in 2024. National electricity prices will be under 26c a kilowatt hour by June 2024, the lowest level since 2016-17, the commission’s report said. MORE A.C.T. POLITICS NEWS: The commission’s chair, Anna Collyer, said 28.7 per cent of ACT electricity consumers were still on standing offers with their electricity providers, which meant there were potential savings available to households. “In fact, they could save up to $284 a year on their energy bill,” Ms Collyer said. Wholesale electricity costs in the ACT are expected to rise by 8 per cent in the next three years, while network costs will go up by 19 per cent. The ACT is the only jurisdiction expected to see a price rise over the next three years. The commission’s report uses prices based on what it terms the most common ACT consumer: a two-to-three-person household with mains gas and electric water heating on the regulated standing electricity offer. “Actual prices will depend on how and when electricity is used in each home and which type of energy offer they are on,” the commission said. Evoenergy in April pointed to the ACT’s renewable energy and taxes when it sought to raise electricity bills by up to $300 a year. The energy distributor said it was seeking the “substantial increase” due to a sharp rise in jurisdictional charges Evoenergy was paying as a result of the territory government’s target of 100 per cent renewable energy. Network and jurisdictional charges roughly make up 40 per cent of the overall energy bill for consumers. The ACT’s Independent Competition and Regulatory Commission in May determined electricity prices in the ACT could rise by up to 11.95 per cent, lower than the rise put forward by Evoenergy. The commission said higher transmission and distribution costs and the cost of the ACT government’s large-scale feed-in tariff also contributed to the increase. To ease the pressure on about 31,000 low-income households, the ACT government will spend almost $10 million on concessions over the next four years. More to come. Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:

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