New benchmarks show power prices unlikely to drop beyond handouts
10 months, 1 week 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 from mid-year. Victoria's Essential Services Commission also revealed price cuts, saying it would reduce that state's default offers by 6 per cent for households and seven per cent for small businesses. Most households 'better off' Explaining the AER's decision, chair Clare Savage said the watchdog had tried to put the protection of consumers first when setting prices for the next financial year. Under the AER's decision, benchmark prices for small businesses will fall by up to 8.8 per cent in South Australia.

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History of this topic

Australia says reliance on coal-fired power drops to record low
2 months ago

Australia says reliance on coal-fired power drops to record low

Raw Story  

Australia's reliance on coal-fired power stations has dropped to a record low, accounting for less than 50 percent of its electricity for the first time, the market operator said Thursday. Overall electricity demand hit a record high in the final quarter of 2024 as temperatures rose and people shifted away from gas, the Australian Energy Market Operator said. At the …

Electricity retailers label complex power prices 'perverse' as industry goes to war with itself
5 months, 4 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 …

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

Power bills to be slashed across Australia's southeastern states
10 months, 1 week ago

Power bills to be slashed across Australia's southeastern states

Daily Mail  

Consumers across Australia's eastern states are set to benefit from a fall in household power bills from July 1 as a cut to electricity price caps and government energy rebates deliver hundreds of dollars worth of relief to cash strapped families. The Australian Energy Regulator's final default market offer - a price ceiling to ensure customers receive the lowest price …

Why the power rebate has been called more ‘stunt’ than value for taxpayers' money
10 months, 2 weeks ago

Why the power rebate has been called more ‘stunt’ than value for taxpayers' money

ABC  

In the context of a federal budget that will be worth almost $730 billion next year, $3.5 billion might seem like a drop in the ocean. "In a sense, this is a golden opportunity to encourage the transition for both cleaner energy and storage," says Professor Mountain, the director of the Victoria Energy Policy Centre. "From an energy economics point …

The energy regulator drafts new benchmark power prices — but what does it mean for your bill?
1 year ago

The energy regulator drafts new benchmark power prices — but what does it mean for your bill?

ABC  

It's almost two years since Australia's energy system was thrown into chaos by a perfect storm of problems. Australia's big energy regulators have proposed changes to benchmark power prices that will apply from mid-year. Just a few months ago, on the back of news that wholesale power prices had fallen considerably in the final three months of 2023, there had …

Winners and losers as energy regulator outlines mixed bag of power price changes
1 year ago

Winners and losers as energy regulator outlines mixed bag of power price changes

ABC  

In short: The Australian Energy Regulator has suggested modest decreases in benchmark power prices for some customers but increases for others. Following price hikes of up to 40 per cent in the past two years, the Australian Energy Regulator has proposed far more modest tweaks to the so-called default market offer. "We know that economic conditions have put pressure on …

Power prices unlikely to fall much, if at all, warn experts as regulators flag key decision
1 year ago

Power prices unlikely to fall much, if at all, warn experts as regulators flag key decision

ABC  

In short: Consumers are being warned not to expect big price falls when regulators announce draft changes to benchmark power prices. Consumers are being warned not to expect big price falls when regulators announce draft changes to benchmark power prices. "I would say that we're going to be plus or minus a few per cent here in terms of the …

Electricity prices are going up from July. Here are some free or cheap ways to save power in every room of your home
1 year, 9 months ago

Electricity prices are going up from July. Here are some free or cheap ways to save power in every room of your home

ABC  

A lot of Australians are going to see their power bills increase very soon. This one is a time AND energy saver Select the cycle with the lowest temperature to get the job done Use an electric frypan, pressure cooker, air fryer or microwave rather than the oven Locate appliances that require hot water as close to the hot water …

Electricity prices set to surge up to 30 per cent as regulators reveal draft pricing plans
2 years ago

Electricity prices set to surge up to 30 per cent as regulators reveal draft pricing plans

ABC  

The Australian Energy Regulator has revealed draft electricity price increases of between 20 and 22 per cent over the coming financial year, while Victorian consumers can expect a 30 per cent price surge. Key points: The AER has proposed default offer price increases of 20-22 per cent for most households across three states Its determination acts as a benchmark for …

Electricity retailers raise fixed charges to recoup costs after record highs in spot market
2 years, 7 months ago

Electricity retailers raise fixed charges to recoup costs after record highs in spot market

ABC  

Natalie, from Tweed Heads in northern New South Wales, has cut her electricity usage to the bare minimum. "I understand everyone is getting a price increase," she said, "but it just feels a little bit unfair that they've put so much on the daily rate. The New South Wales Energy and Water Ombudsman, Janine Young, said every customer would be …

Queensland power prices have been capped and there's concern about blackouts. What you need to know
2 years, 9 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 …

Australia's energy ministers have an 11-point plan. Here's why it won't ease prices any time soon
2 years, 9 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 …

Australia on the 'precipice' of a UK-style energy crisis as soaring costs push retailers out
2 years, 9 months ago

Australia on the 'precipice' of a UK-style energy crisis as soaring costs push retailers out

ABC  

Australia is on the "precipice" of a UK-style energy crisis that could send many of its power retailers broke and fuel a surge of households unable to pay their bills, a leading expert has warned. Key points: There are warnings Australia could slide into a UK-style energy crisis where retailers go broke and energy poverty soars New Zealand-based provider ReAmped …

Power prices to surge up to 18.3 per cent as energy market turmoil flows through to households
2 years, 10 months ago

Power prices to surge up to 18.3 per cent as energy market turmoil flows through to households

ABC  

Millions of Australian households are set to be hit by soaring electricity costs after the energy industry watchdog increased key prices by hundreds of dollars a year. Key points: Benchmark electricity prices will rise up to 18.3 per cent under a decision by the Australian Energy Regulator Increases to the so-called default market offers will amount to hundreds of dollars …

Wholesale power prices soared 141 per cent, year on year, and households should brace for more
2 years, 11 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
3 years, 1 month 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 …

Solar panels, cooler summer drive power prices into negative territory in South Australia
3 years, 11 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 …

Electricity prices on the rise despite reregulation of the market
5 years, 8 months ago

Electricity prices on the rise despite reregulation of the market

ABC  

The Federal Government's tentative steps towards reregulating the retail energy market have seen power prices rise and competitive pressure between rival suppliers ease. Key points: The new Default Market Offer reforms, intended to end the "loyalty tax" in the retail energy market, started on July 1 The new DMO operates more as price comparison, rather than a price cap as …

Energy 'confusion-opoly' blamed for consumers paying too much for electricity
6 years, 4 months ago

Energy 'confusion-opoly' blamed for consumers paying too much for electricity

ABC  

Energy prices have become so confusing that at least 1 million Australian households are languishing on uncompetitive deals. Key points: On average, electricity prices have increased by 75 per cent since 2009, according to Vinnies Victoria, SA have seen biggest rises Analysis finds many households could be saving between $500 to $1,000 if they negotiate a better deal That's according …

Origin Energy offers small discount, after hiking power bills by 15pc last year
6 years, 9 months ago

Origin Energy offers small discount, after hiking power bills by 15pc last year

ABC  

Origin Energy has announced it will cut the power bills of customers in south-east Queensland and South Australia from July 1 — despite introducing double-digit price hikes last year. Origin Energy will cut the electricity bills of customers in some states, despite hiking prices last year. "Customers have felt the pinch of higher electricity prices and while this is a …

Power prices: Australia has a gold-plated electricity grid that consumers can't afford
7 years, 8 months ago

Power prices: Australia has a gold-plated electricity grid that consumers can't afford

ABC  

The Australian energy system stands as a monument to vested interests. Key points: The majority of a grid owners' income is guaranteed by the regulators' valuation of the network The Australian network is valued at $US75b, compared to the entire US network valued at $US100b When the grids' earnings fall, prices can go up to cover the shortfall It is …

Energy regulator asked to probe Queensland's power prices, as 'political petty games' continue
7 years, 8 months ago

Energy regulator asked to probe Queensland's power prices, as 'political petty games' continue

ABC  

The Australian Energy Regulator has been asked to investigate Queensland power prices by Federal Energy Minister Josh Frydenberg, in a move slammed as blatantly political by the State Government. 'More political petty games' But the Queensland Government said the AER had already investigated the matter, finding the high prices were caused by higher electricity demand, heat-related network and generation constraints, …

Queenslanders brace for higher costs and fees from July 1
7 years, 8 months ago

Queenslanders brace for higher costs and fees from July 1

ABC  

June is over — that means the end of financial year hangover has begun, and for some in Queensland, it will take a while to get over. "Queensland's already expensive when it comes to registration — depending on your car, we're already the first or most expensive in most categories across the country," Mr Turner said. Mortgage fees and first-homeowners' …

South Australia's power woes expose deeper problems with nation's energy security
8 years ago

South Australia's power woes expose deeper problems with nation's energy security

ABC  

Australia is rapidly stumbling into a major energy crisis, and there's little evidence to suggest the federal and state governments can agree on the solutions to fix it. In short, the sudden and unexpected closure of ageing coal plants at Hazelwood in Victoria this month and Port Augusta in South Australia last year are putting enormous pressure on power supply. …

Big electricity retailers marking up costs by $650 a year in South Australia, GetUp says
8 years, 7 months ago

Big electricity retailers marking up costs by $650 a year in South Australia, GetUp says

ABC  

Activist group GetUp has accused electricity retailers of adding big margins and mark-ups to South Australian power bills. GetUp said AGL, Origin Energy and Energy Australia were charging South Australians a mark up of $650 each year, about twice what customers were paying for the actual generation of the electricity. Retailers blame rising wholesale costs AGL, Origin Energy and Energy …

Electricity bills set to fall 9.8 per cent for South Australian households
9 years, 11 months ago

Electricity bills set to fall 9.8 per cent for South Australian households

ABC  

South Australian electricity bills should fall by about $197 for an average household over the financial year from July, the Australian Energy Regulator says. AER board member Jim Cox said an average household could expect its annual bill to fall by 9.8 per cent from 2015-16. "We welcome this draft decision by the national regulator, which recognises the need to …

Tasmanians struggle to pay power bills despite price drop
10 years, 4 months ago

Tasmanians struggle to pay power bills despite price drop

ABC  

The number of Tasmanians seeking help to pay power bills has doubled, a report says. The Australian Energy Regulator has released its annual report, showing customers signing up to hardship programs increased 100 per cent in the year to June. Australian Energy Regulator board member Jim Cox said about 1,000 Tasmanian customers were receiving hardship assistance. "We would encourage customers …

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