Electricity companies to count even more of Australians’ money | Image: Public Domain
Rising energy costs appear to be the third thing you can be assured of in life in Australia these days. Here’s a look at the looming impacts in each state in relation to major electricity retailers.
The very bad news is a majority of Australian households and small businesses will be slugged with electricity price increases from July 1.
Queensland
- Origin: Households +3.5 per cent, businesses +5.9%
- Energy Australia: Households +7.3 per cent, businesses +11.3 per cent
- AGL: Unable to locate a % figure, but the company says average residential electricity bills will increase by $108 a year
New South Wales
- Origin: Households +16.1 per cent, small business: +18 per cent.
- Energy Australia: Households +19.6 per cent, businesses + 19.9 per cent
- AGL: Households +16 per cent
ACT
- ActewAGL : Households +18.95%
Victoria
After already experiencing a price rise at the beginning of this year, households and businesses in Victoria have a reprieve until at least the end of the year, when new prices will be set.
Tasmania
The Tasmanian government has intervened in an effort to see price hikes kept to a minimum and in line with CPI (about 2 per cent). However, if its legislation isn’t passed, Tasmanian households and businesses are facing increases of 15 per cent. In late May, the Legislative Council supported the legislation, with minor amendments.
On June 23, the Tasmanian Economic Regulator approved Aurora’s standing offer electricity prices from July 1. The changes will result in a two per cent increase on annual residential bills. For small business customers, the daily supply charge will remain unchanged and usage charges will be lower.
South Australia
- Origin: Households +15.9 per cent, Small businesses +15.3 per cent.
- Energy Australia: Households/small business + 19.9 per cent
- AGL: Households +18 per cent
Western Australia
UPDATE: June 22 – Western Australian Treasurer and Energy Minister Ben Wyatt has announced an increase of $169 to the fixed charge component of electricity bills, or 10.9 per cent for the ‘representative household’.
Previously, the Minister warned increases could be as much as 15% over the next couple of years.
Northern Territory
It appears all is quiet on the northern front.
July Certainly Won’t Be A Gas
In addition to electricity rate rises across much of the nation, the new financial year will see many slugged with a substantial increase to gas prices that will hit hard on home heating costs.
Common themes provided in reasons for energy price hikes have been an increase in wholesale electricity costs, an uncertain policy environment and gas supply/cost issues – as we keep exporting gas. It’s tragic/frustrating/ludicrous Australian gas can be apparently purchased cheaper in Japan than here – a situation that’s been called “uniquely stupid”.
As news has filtered through of post-June price hikes, interest in installing solar power has also increased both from first-timers and those seeking to upgrade their systems, as the case for going solar and upgrading has become even more compelling
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https://www.ergon.com.au/…/residential/tariffs-and-prices
Ergon FNQ Energy cost from 1 July 2017 for General supply Tariff 11 increase from 0.27071c to 0.28479 kWh [+5.20%]. Feed in increases from 0.07448c to 0.10102c kWh. [+35.63]. Supply Charges decrease from 0.98529c to 0.95846c per day [-2.27%]. Meter service charge increase from 0.19657c to 0.20546c per day [+4.52% Inc].
What does it mean our estimated total annualised cost for July 2016-June 2017 is approximately $1,804,55. Using the same data but applying the new tariff and fixed costs to the 2016-17 performance the annualised cost would be $1,802.41. Both amounts include the change [increases and decreases] in Feed in tariff offset plus fixed daily supply and meter costs. Feed in offset value for the period 2016/17 would be $220.01 and with the increase in Tariff the amount would be $298.41. So in our case the increase in kWh energy cost because we have solar employed based on how the pricing of energy is constructed has no material effect. E&OA
Any idea by how much prices rose in Victoria at the start of the year?
Hi Matthew.
Victoria’s electricity prices increased by just under 10% at the start of the year. That figure should be for the total cost of electricity for households, which includes changes in supply charges. (The exact amount of increase will vary between plans.)
Everything you ever wanted to know about energy pricing can be obtained from this Government website aer.gov.au
We have just been told in the ACT that ActewAGL are increasing our energy prices by 18.95% $6.4 a week for electricity and $4.75 a week for Gas so adding maybe a extra $580 a year to our already high energy prices here.I think everyone will agree,these companies cannot justify any increases to the energy they supply us.We produce our own energy yet we are dearer than England,its just pure greed,and obviously this Government are going to do nothing about this.I think now my annual spend on Energy will probably be about $4600,and this is for a 3 bedroom house and only 2 people living in it,if this was factored in today,saying my electricity is $2800 of my annual energy say using 16.5 kWh per day,what would the pay of period be,to generate this power from a solar system which of course included batteries.