Electricity retailers label complex power prices 'perverse' as industry goes to war with itself
2 months, 3 weeks ago

Electricity retailers label complex power prices 'perverse' as industry goes to war with itself

ABC  

Australia's electricity retailers have lashed as "incredibly perverse" changes to the way people are charged for power that are leaving many with complex prices and higher bills. According to the AEC, the real problem is "network tariff reassignment", which occurs when a home is fitted with a smart meter and the poles-and-wires company starts charging the retailer cost-reflective tariffs at the property. Tariffs 'unreasonably' complicated The AEC said such charges made a mockery of tariff reform, which it noted was based on an expectation that consumers be "reasonably capable" of understanding the prices they were charged. The group said it still supported some form of dynamic pricing such as "simple" time-of-use tariffs, which charged consumers more for power during the evening peak and less at off-peak times. "As the smart meter rollout continues, we support strong safeguards to ensure customers avoid bill shock from their retail charges changing without clear, timely communication," Ms Shanks said.

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History of this topic

Claims complex power prices 'all pain, no gain' spark calls for tariff rethink
3 months, 3 weeks ago

Claims complex power prices 'all pain, no gain' spark calls for tariff rethink

ABC  

The peak body representing energy users has attacked complex power prices that charge consumers more at peak times, saying they do not work and may only hurt average people. In a damning assessment, Energy Consumers Australia said charging households and small businesses more for power at peak times may do little — or even nothing — to avoid network upgrades …

Power prices that are 'double' the benchmark spark calls for overhaul of energy consumer safeguards
3 months, 4 weeks ago

Power prices that are 'double' the benchmark spark calls for overhaul of energy consumer safeguards

ABC  

Some households are being charged more than double the regulated benchmark price for electricity, fuelling claims that Australia's energy consumer protections are failing and need to be overhauled. Among them is one customer from South Australia whose new costs are an "estimated" 103 per cent above the default offer, otherwise known as the government reference price. The regulator said the …

Energy retailers' 'insidious' power pricing charges households based on highest point of use
6 months, 3 weeks ago

Energy retailers' 'insidious' power pricing charges households based on highest point of use

ABC  

Hundreds of thousands of Australian households are being charged electricity prices based on their single biggest point of usage across an entire month, fuelling claims power firms are using sneaky tactics to gouge consumers. An investigation by the ABC has found that soaring numbers of residential electricity customers with smart meters are being put on to so-called cost-reflective tariffs such …

New benchmarks show power prices unlikely to drop beyond handouts
7 months ago

New benchmarks show power prices unlikely to drop beyond handouts

ABC  

In short: The country's biggest energy regulator has passed on a mixed bag of tweaks to benchmark electricity rates. Amid news that New South Wales would extend the life of the Eraring coal-fired power plant to help keep a lid on prices, the Australian Energy Regulator handed down its final decision on the so-called default market offers that could apply …

Energy companies under fire over move to 'punishing' time-of-use tariffs
8 months, 2 weeks ago

Energy companies under fire over move to 'punishing' time-of-use tariffs

ABC  

In short: Households are having their electricity tariffs changed to so-called time-of-use rates, which charge them more at peak times. Enabling the change are smart meters that supposedly allow householders to see how much power they are using in "real time" while giving regulators and the industry better oversight of customers' usage. But the regulator also noted that the Australian …

A report into price gouging is expected to cause trouble for Australia's most powerful companies
10 months, 2 weeks ago

A report into price gouging is expected to cause trouble for Australia's most powerful companies

ABC  

A report into soaring grocery prices, rising energy bills and steep airfares will be released on Wednesday amid expectations its findings and recommendations will cause a headache for some of the country's biggest and most powerful companies. At the heart of the price gouging inquiry, initiated by the ACTU and led by Allan Fels, is determining in a high inflation …

Sting in the tail of Australia's energy crisis as power prices soar up to 100pc for some
1 year, 5 months ago

Sting in the tail of Australia's energy crisis as power prices soar up to 100pc for some

ABC  

Some Australian households are facing power price hikes of up to 100 per cent as the "long tail" of last year's energy crisis hits home hard, according to consumer advocates. Key points: Benchmark power prices will rise 20-25 per cent across Queensland, NSW, Victoria and SA from Saturday Consumer advocates warn tariffs could jump much higher for customers on expiring …

How to save on winter energy bills as electricity prices and cost of living surge
1 year, 6 months ago

How to save on winter energy bills as electricity prices and cost of living surge

ABC  

Energy prices and the cost-of-living crisis are putting a squeeze on Aussie households. Keep the heat in Chris Barnes from Choice says the cheapest heater "is the one you don't run in the first place". "It does cost more up-front to buy it and install it but it's going to deliver a lot more heat energy for the electricity it …

Explained | Why is Australia facing an electricity crisis despite being a top exporter of coal and gas?
2 years, 6 months ago

Explained | Why is Australia facing an electricity crisis despite being a top exporter of coal and gas?

The Hindu  

The story so far: On Thursday, June 16, Chris Bowen, the Energy Minister of Australia — the world’s biggest exporter of coal and Liquified Natural Gas — asked the residents of its most populous state New South Wales, to conserve power as much as possible during the peak demand hours of 6 pm to 8 pm to prevent blackouts. This …

Queensland power prices have been capped and there's concern about blackouts. What you need to know
2 years, 6 months ago

Queensland power prices have been capped and there's concern about blackouts. What you need to know

ABC  

Fears about blackouts due to a shortage of electricity did not eventuate last night but Queensland and NSW consumers are warned the threat has not passed. This morning AEMO said that, as a consequence of the price cap, "some generators revised their market availability in New South Wales and Queensland for today". "AEMO will take further actions to improve electricity …

How much are power prices increasing by? Why are they going up? What can I do to save on electricity?
2 years, 6 months ago

How much are power prices increasing by? Why are they going up? What can I do to save on electricity?

ABC  

Late last month, a major energy regulator signalled Australians would be seeing significant hikes in their power bills from July 1. This means that, globally, there's a much higher demand for gas, coal and oil from other nations and, thanks to a smaller supply pool, the prices for those commodities are going up. A major point was fast-tracking what's called …

Australia's energy ministers have an 11-point plan. Here's why it won't ease prices any time soon
2 years, 6 months ago

Australia's energy ministers have an 11-point plan. Here's why it won't ease prices any time soon

ABC  

Australia's surging power prices have been hit by the "perfect storm", and that's being felt in households around the country. But an 11-point plan from Australia's energy ministers released after meeting on Wednesday isn't going to ease prices any time soon, with federal Energy Minister Chris Bowen saying there's no "silver bullet". A cold snap, rising fuel prices thanks to …

Tasmania can power itself with hydro — but your electricity bill is not immune from price hikes
2 years, 6 months ago

Tasmania can power itself with hydro — but your electricity bill is not immune from price hikes

ABC  

Tasmanians have been told to brace for the biggest electricity price hike in a decade as spiralling wholesale electricity costs impact the island state. Huge wholesale price increases have prompted hefty increases in NSW, South Australia and Queensland to a benchmark power price known as default market offers, by as much as 18.3 per cent. It's a wholesale market where …

Power price spike 'just the start' as smaller energy retailers struggle with surging wholesale market
2 years, 6 months ago

Power price spike 'just the start' as smaller energy retailers struggle with surging wholesale market

ABC  

As Australians digested the news this week that benchmark electricity prices are set to rise by as much as 18 per cent, Bruce Mountain had a worrying thought. Small retailers 'to go bust' Most ominously, Mr Mountain said wholesale power costs that had risen 141 per cent in the 12 months to the end of March were threatening to send …

Wholesale power prices soared 141 per cent, year on year, and households should brace for more
2 years, 7 months ago

Wholesale power prices soared 141 per cent, year on year, and households should brace for more

ABC  

Households already battling rocketing living costs are facing more pain via their power bills, with the body that runs the electricity market saying prices in that sector have also surged in the past year. Key points: AEMO says wholesale electricity prices in the NEM rose 141 per cent in the first quarter compared with last year Coal plant outages, higher …

Australian power prices now 'among lowest in the world' as renewable energy drives costs down
2 years, 10 months ago

Australian power prices now 'among lowest in the world' as renewable energy drives costs down

ABC  

A flood of renewable energy has helped drive down household power prices to their lowest levels in almost a decade, according to a report which suggests Australia has some of the cheapest electricity in the world. Key points: Australia ranked 10th lowest among advanced economies for the average price of electricity Industry analysis finds power prices are their lowest in …

National energy market report details expected power bill price drops across Australia
3 years ago

National energy market report details expected power bill price drops across Australia

ABC  

Household power bills are predicted to continue falling in the coming years, despite the closure of major power stations including Liddell power station in New South Wales. Key points: An Australian Energy Market Commission report predicts reduced power bills over three years However, bills are expected to rise slightly in 2022/23 before falling The report notes an increasing amount of …

Fears proposal to charge households with solar panels to export electricity will kill demand for solar energy
3 years, 7 months ago

Fears proposal to charge households with solar panels to export electricity will kill demand for solar energy

ABC  

An energy expert has hit out at a new proposal to charge solar panel users for exporting their excess electricity, labelling it a "sun tax" and arguing it will cost solar households more than is being estimated by the independent statutory body pushing the changes. Key points: For years, solar panel owners have been able to sell their surplus energy …

Solar panels, cooler summer drive power prices into negative territory in South Australia
3 years, 7 months ago

Solar panels, cooler summer drive power prices into negative territory in South Australia

ABC  

South Australia's high uptake of renewables has led to another national energy milestone, with record low daytime wholesale prices in the first three months of the year. Key points: Daytime wholesale prices were consistently in negative territory in SA That was driven by renewable energy, but gas generators were needed to help stabilise the grid Wholesale prices across the country …

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