Ferguson: Electricity prices to remain high until 2014
Business Spectator, 11 November 2012
Resources Energy and Tourism Minister, Martin Ferguson has stated that prices may continue to rise without abatement until 2014.
In an interview following the release of the Government’s Energy White Paper, Ferguson gave the date of July 2014, the next price setting period for the Australian Energy Regulator, as the time when prices will be assessed.
The Australian Energy Regulator is the body that administers the operations of network businesses, often known as the ‘poles and wires’ component of the NEM. The AER regulates the capital expenditure, operating expenditure, borrowing costs and rates of return on investment for transmission and distribution businesses.
He also sympathized my generation businesses that are losing money in the depressed wholesale market and applauded consumers for making adjustments to their energy use in response to high price signals in the retail electricity marketplace.