NSW Electricity prices set to see 17% hike

Published: September 02, 2011 - 11:00 AM

Increase is due to increasing network costs

ABC News has reported that IPART has confirmed that NSW electricity prices will go up at least $200 per year from July 2011. The average increase released by IPART in its final report is 17.3 per cent.

Users of electricity in country NSW will be harder hit than their city counterparts. On average, homes will pay between $216 and $316 more per year, with business to be hit with a $528 annual increase.

IPART have advised that almost half of the increase is due to increasing network costs with the balance largely as a result of the Federal Government’s Energy target Scheme which include solar panel subsidies.

Alison Walter of Shoparound.com.au says that these with other financial pressures, these increases will hit householders hard. "If you are responsible for paying your homes electricity bill in NSW, it’s best to shop around, spend some time checking out the electricity deals available from NSW electricity suppliers and confirm you are getting the best electricity deal or if you can save money. It’s now important than ever to make sure you are paying the best price possible for your electricity in NSW."

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