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Energy minister says bills will stabilise

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As upgrades to the infrastructure of energy providers winds down, household electricity bills will stabilise in the coming year.

That's according to federal energy minister Martin Ferguson, who spoke at the Australian Institute of Energy National Conference in Sydney yesterday (November 20).

He added that while there is no quick fix to rising electricity prices, which have soared by 40 per cent in the past four years, the impact that is being seen as a result of investment is reducing.

He reassured: "The bulk of investment in networks for this regulatory period has already occurred, with smaller increases in network charges expected in the final year of the regulatory period.

"That means household consumers are expected to see a stabilisation in the price they pay for electricity from July 2013."

Network charges take up the bulk of the costs consumers pay, but as a result of reducing usage by bill payers, Mr Ferguson said that prices would stabilise as a result.

The minister mentioned that further reviews and reforms are taking place to ensure that electricity prices don't rise in the manner in which they previously have.

If you feel your energy provider is not giving you the best deal, talk to a comparison and switching service and let them investigate the possibility of a different service that does cater to your needs.

Posted by Charlie Moore