Electricity Prices Set To Fall Further

Minister for Resources and Energy Anthony Roberts has welcomed a Draft Determination for the NSW electricity businesses from the Australian Energy Regulator (AER) that may reduce household electricity bills even further.

Mr Roberts said, “The continuing downward path of electricity prices shows once again that Mike Baird is the man you can trust to keep the lid on cost-of-living pressures, while John Robertson will always send them through the roof to help his union mates.

“Under Labor, power prices rose by 60 per cent over 5 years, but those days are now behind us.

“The NSW Government shares the objective of the AER in easing cost-of-living pressures on households through lower electricity bills.

“However, this is about getting the balance right between reliability, affordability and safety.

“Our reforms are delivering $5.4 billion in savings, without compromising safety or the reliability of the networks. This has led to reductions in prices, in real terms, for the first time this century.

“We note the AER Determination is in its draft phase. The next stage of the process will involve engagement with the regulator to ensure efficiencies are achievable, measured and sustainable.”

Under the AER Draft Determination, typical residential customers could receive the following average annual discounts on their electricity bills:

Network distribution area Potential saving on a typical household bill
Ausgrid $189
Endeavour
Energy
$159
Essential
Energy
$346

Mr Roberts said the AER’s Draft Determination also highlights the shallow scare campaign being run by Labor.

“Power networks in the National Electricity Market, whether public or private, are regulated by the AER, an independent national body,” he said.

“John Robertson is perpetuating the biggest lie around town by claiming the proposed lease of the NSW network businesses will increase power prices. He’s been proved wrong again today.”