ACT power bills are forecast to rise even further from next financial year in one of the largest price increases in the country.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The latest annual State of the Energy Market report, released on Friday by the Australian Energy Regulator, said electricity retail prices in the ACT will go up by 4 per cent in 2022-23, the most out of any state or territory.
While further price rises are predicted, the report also revealed it wasn't all bad news for electricity usage in the capital.
"Despite the above average electricity use, the ACT had the most affordable electricity bills as a percentage of disposable income, a result of relatively low electricity prices and high incomes," the report said.
"Electricity use is highest in the ACT and Tasmania. Key drivers of electricity use are climate, with greater heating and cooling requirements in some jurisdictions, and the penetration of gas as an alternative fuel."
On the other hand, gas prices in the ACT were among some of the highest in the country, in terms of being a percentage of a household's disposable income.
Energy consumers are adopting their own 'behind the meter' energy solutions.
- Clare Savage
According to the report, the ACT had the highest annual gas bills on market offers - prices set by energy retailers to remain competitive - with the estimated yearly bill being $1465.
For standard offers - prices set by regulators in each state and territory - the ACT's estimated annual bill was $1760, or the second highest jurisdiction, only behind those in Victoria.
The report showed market offers for electricity bills in Canberra was $1711 for the year, while it was slightly higher at $1937 for standard offers.
The report comes after a decision by the ACT's Independent Competition and Regulatory Commission to increase electricity prices by 11.95 per cent, or almost $200, from July 1.
Figures showed Evoenergy had one of the largest increases in the country for network charges, which make up 40 to 50 per cent of the electricity bill, which led to the overall bill rising by 0.5 per cent.
READ MORE:
At the time of the decision, the energy distributor said the ACT's renewable energy policy and taxes led to the decision.
"Evoenergy's charges for jurisdictional taxes and renewables policies drove much of this increase, rising 133 per cent from the charges for 2020-21," the regulator report said.
Nationally, the report revealed a large shift towards solar and wind energy.
More than 3700 megawatts or wind and solar entered the national energy market in 2020, with output from wind generation exceeding gas generation for the first time.
Chair of the regulator Clare Savage said household solar was also booming.
"Almost 24 per cent of all consumers in the national energy market now partly meet their electricity needs through rooftop solar and sell excess electricity back to the grid, compared with less than 0.2 per cent of consumers in 2007," she said.
"Energy consumers are adopting their own 'behind the meter' energy solutions, embracing distributed energy resources that include rooftop solar installations, small batteries, electric vehicle and demand response."
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
- Bookmark canberratimes.com.au
- Download our app
- Make sure you are signed up for our breaking and regular headlines newsletters
- Follow us on Twitter
- Follow us on Instagram