South Australia next in line for electricity price hikes
South Australia is the latest state to be hit with increases to electricity prices.
The Essential Services Commission of South Australia (ESCOSA) released their final decision on energy price adjustment today (June 15), announcing any households still on a standing power contract can expect to be hit with a price increase of 18 per cent.
That's in line with the decision handed down by the Independent Pricing and Regulatory Tribunal in NSW, and slightly more than the 17.74 per cent that ACT residents are set to face.
The changes are set to come into play on July 1, and are largely the effect of the government's new carbon tax as well as increasing costs of network prices, which are monitored by the Australian Energy Regulator.
"The majority of the increase in network prices is due to the increased payments made by ETSA Utilities for energy exported by rooftop photovoltaic (PV) generators, under the state government’s feed-in tariff scheme," the ESCOSA explained.
The average household can expect to see its bill increase by from $1,525.94 per year to $1,800.56. That's an additional $275 that residents will need to pay just to power their homes.
However the ESCOSA did offer alternatives for those concerned about the price hikes.
"Households and small businesses can minimise the impact of increased energy prices in two ways: by shopping around for better offers and/or by reducing energy consumption."
By Charlie Moore