IPART Finalises Electricity Price Hike
Today, 14 June, IPART the New South Wales Energy Regulator announced that it would be allowing Electricity retailers to increase Electricity Prices by 17.3%
The prices hikes are a result of the need to increase Network charges and the impact of the Federal Governments Renewable Energy Target (RET) scheme.
IPART Chairman, Mr Rod Sims, said "that the price increases
would be difficult for many families to
deal with and are of serious concern."
Sydney metro and country New South Wales customers will be impacted the most, with price increases of 17.9% and 18.1% respectively.
Price increases break down as follows:
- 17.9% for customers in the old EnergyAustralia region
- 15.5% for customers in the old Integral Energy region
- 18.1% for customers in the old Country Energy region
Home owners can expect to see annual bill increases between $216 & $316, with business owners see hikes of $307 to $528.
Higher users will of course see higher $ hikes, which means home owners need to budget an additional $18 for every $100 of current spend, and businesses a massive $180 for every $1000 of spend.