Victorian householders will save an average of between $50 and $120 on their electricity bills over the next five years, following a new ruling from the national energy watchdog.
Small businesses should see their electricity bills cut by up to $99.
The Australian Energy Regulator’s (AER) released its final decision today on the costs that electricity distributors can pass on to consumers for electricity poles, wires and metering.
These network costs account for up to half of a typical power bill.
Under the proposals made by the distributors to the AER, electricity bills would have increased by up to $225 by 2020.
At every point in the regulator’s price-setting process, the Andrews Labor Government put the interests of Victorian consumers first.
This includes making a submission to the AER advocating for lower network charges for Victorian households and businesses.
Today’s decision to reduce network charges for the five year period between 2016-20 is a win for Victorian consumers and for the Labor Government’s strong action to drive down electricity prices.
The AER’s decision also confirms that Victoria’s electricity distributors are operating relatively efficiently compared to other service providers in the national electricity market.
Quotes attributable to Minister for Energy, Environment and Climate Change Lily D’Ambrosio
“We are putting Victorian households and businesses first and have advocated strongly for network charges to be reduced.”
“This is a win for Victorian consumers and for the Andrews Labor Government’s strong position to ensure we have fairer and lower power prices in Victoria.”
Reviewed 19 August 2020