Final IPART report into 2012/13 electricity prices
Last updated: 2 July 2012
The Independent Pricing and Regulatory Tribunal (IPART) has released its final report on the average prices that regulated electricity retailers in NSW can charge small customers (households and businesses consuming less than 160 megawatt hours per year) from 1 July 2012.
IPART has determined that electricity prices in NSW will rise by approximately 18%. The report states regulated retail electricity prices for the typical household will rise from 1 July 2012 by:
- $364 per year (20.6%) for EnergyAustralia* residential customers
- $208 per year (11.8%) for Integral Energy* residential customers
- $427 per year (19.7%) for Country Energy* residential customers
* EnergyAustralia is owned by TRUenergy and Integral Energy and Country Energy are owned by Origin Energy.
Electricity prices are rising as a result of the Commonwealth’s Carbon Tax, which will increase bills by 8.9%, and network charges which will increase bills by 8.4%. Network charges are the costs to maintain our electricity networks (the poles and wires). Other factors are a reduction in generation costs not including the carbon price (-0.8%) and an increase in retail costs of 1%.
IPART has found green schemes will consist of approximately $316 on an average household bill. This includes:
- The Commonwealth’s Carbon Tax ($168)
- Renewable Energy Targets (small and large scale) ($102)
- NSW Energy Savings Scheme ($13)
- NSW Climate Change Levy ($34) to fund the Solar Bonus Scheme
More information is available on IPART’s website.
More information on contributing factors to electricity price increases is available.
The NSW Government is implementing options to contain future costs. For more information see the NSW Government's fact sheet 48Kb.
The NSW Government introduced a new $75 Family Energy Rebate from 1 July 2012 which will rise to $150 by 1 July 2014. The Low Income Household Rebate also increased to $215 from 1 July 2012. People will be able to apply for the Family Energy Rebate as well as the Low Income Household Rebate, however, the combined rebates will be capped at $250 per annum, per household. There are also a range of other measures to help with energy bills. For more information see the Questions and Answers.