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CANBERRA POWER PRICES SET TO RISE

Image Credit – R. Roth/123rf.com

The average Canberra household is expected to have to fork out about $191 more for electricity each year from July 1.

That’s under a draft determination by the ACT Independent Competition and Regulatory Commission (ICRC).

It’s as power prices are likely to increase by 10.9%, possibly more, following recommendations by the independent regulator.

So, what’s driving this expected hike?

Sustainability Minister Shane Rattenbury said it’s largely to do with ongoing uncertainty around the Federal Government’s energy policy.

The Minister’s moved to reassure Canberrans that despite the proposed increase, the ACT continues to have some of the lowest electricity prices in the country.

“The bulk of today’s proposed increase is outside the control of the ACT and similar price rises will be felt by most other Australian states,” he said.

“Canberrans will be paying an average of $800 less per year compared to our Queanbeyan neighbours.”

Public submissions to the ICRC on their draft determination close on April 28. For more information, check out the ICRC website.

The commission is expected to make its final ruling on retail electricity prices in June.

What do you think about this proposed power price hike? Have your say at our Facebook page!

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