Sydney: CBD sustainability and electricity prices
The markets which affect electricity prices, gas rates and water charges for consumers can often be influenced by decisions made in the public interest by local government.
Increases in efficiency on a larger scale may lead to savings on the small scale - for example energy sustainability procedures implemented by councils can have long-term benefits for residents who might eventually enjoy more affordable electricity.
To that end, the City of Sydney has recently put a strategy in place to reduce greenhouse gas emissions by 70 per cent over the next 18 years - one of the country's most ambitious plans.
One of the most significant steps in this strategy to date has been the rollout of LED lighting for streets and public areas, the first batch of which were installed today (March 30).
Lord mayor Clover Moore said that the introduction of this more eco-friendly lighting option would halve the city's energy use and save about $800,000 per year in electricity bills and maintenance expenditure.
Raising energy efficiency can benefit both the city and its residents - in terms of the way energy costs are calculated and the development of more finance-friendly ways of consuming electricity.
Posted by Charlie Moore