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Australian Energy Regulator clamps down on network charges


Source: Sydney Morning Herald, 28 Nov 2014

More than $210 could be shaved off the annual electricity bill for NSW households, and $360 for small businesses, says the energy regulator, if its proposed price restrictions go ahead next year.

On Thursday, the Australian Energy Regulator announced its draft decisions on planned spending of NSW electricity distributors, slashing their proposed operating and expenditure costs for 2014-19 by more than a third.

It aims to restrict what Ausgrid, Endeavour Energy and Essential Energy – responsible for poles and wires that transport power across the state – can charge customers to recoup network upgrade and maintenance costs.

Ausgrid's revenue from consumers could drop by 35 per cent to $6.5 billion, savings its customers $189 a year on their annual bill.

Endeavour Energy proposed revenue could be reduced to $3 billion, saving its customers $159 a year. And Essential Energy customers could enjoy a big saving of $346 in 2015-16.

Read more HERE