Final IPART report into 2011 electricity prices
Last updated: 16 June 2011
The Independent Pricing and Regulatory Tribunal (IPART) has released its final report into regulated electricity prices to apply from 1 July 2011.
This report has found that electricity prices in NSW are set to rise approximately 6% above previously approved rises as a result of the Commonwealth’s Renewable Energy Target. In total the report states average regulated retail electricity prices will rise from July 2011 by:
· $230 per year (17.9%) for EnergyAustralia* residential customers
· $216 per year (15.5%) for Integral Energy* residential customers
· $316 per year (18.1%) for Country Energy* residential customers
Electricity prices are rising as a result of network charges, which are the costs to maintain our electricity networks (the poles and wires) and green schemes, like the Commonwealth’s Renewable Energy Target scheme, which will increase bills by 6% (approximately $75 per household). .