Friday, 13 April 2012

And now for the bad news - 2012/13 residential electricity pricing on the NSW North Coast

Independent Pricing And Regulation Tribunal NSW Draft Determination: Changes in regulated electricity retail prices from 1 July 2012 (PDF file)

Electricity prices are increasing

Based on our draft decision, average regulated retail electricity prices will increase by around 16% across NSW from 1 July 2012 – or by between an average of 10.3% and 19.2% across different electricity supply areas. These changes follow average increases of 10% and 17% across NSW in 2010/11 and 2011/12 respectively.

Table 1.1 IPART's draft decision on regulated average retail electricity price increases from 1 July 2012 (including inflation, %)

Integral Energy
Country Energy
NSW average
 Note: The increases in regulated retail electricity prices are based on forecast network price increases which are subject to approval by the Australian Energy Regulator in June 2012…..

This year, the increases proposed in our draft decision are primarily driven by:
 the continuing rise in forecast network costs, which contributes to around half of the average 16% price increase, and
 the introduction of the Federal Government's carbon pricing mechanism, which contributes to the other half of the average price increase.

The other costs that contribute to regulated retail electricity prices will decline slightly, or remain fairly stable…..

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