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Creating energy solutions forĀ a sustainable future

A 37 percent rise in energy prices is expected by 2014, according to a report by the Australian Energy Market Commission. Many businesses are recognising that the cost of doing nothing about energy efficiency technology can add up to a considerable ongoing operating expense. There is a huge opportunity for businesses across a number of industries to reduce their energy use now and save money in the long term.

IPART Approved Increase Forecast Increase

Possible future retail electricity prices: 1 July 2011 to 30 June 2014

The report provides an analysis of projected residential electricity prices, including a price on carbon, as specified in the Clean Energy Future legislative package. The drivers behind the increases vary across jurisdictions. While increasing network investment expenditure, higher wholesale electricity prices, and government schemes are common factors, the relative proportions of these drivers differ across jurisdictions. The relative proportion of the wholesale electricity component to the total residential retail electricity price increases significantly with a carbon price. The impact of a carbon price at the national level is approximately six percent in 2013-2014.

New South Wales

New South Wales residential electricity prices are forecast to increase by 42 percent in nominal terms between 2011 and 2014. Drivers of New South Wales price movements are that 36 percent of the increase is from the distribution component as a result of increasing maximum demand, the need to replace ageing assets and additional capital expenditure over the current regulatory control period. In addition, 38 percent of the estimated increase in retail electricity prices is from the wholesale component, as a result of the price on carbon and the expected increase in gas-fired generation capacity.

Queensland

Queensland residential electricity prices are forecast to increase by 42 percent in nominal terms between 2011 and 2014.

Australian Capital Territory

Residential electricity prices are forecast to increase by 42 percent in nominal terms between 2011 and 2014.

Victoria

Victorian residential electricity prices are forecast to increase by 33 percent in nominal terms between 2011 and 2014.

Tasmania

Tasmanian residential electricity prices are forecast to increase by 25 percent in nominal terms between 2011 and 2014.

South Australia

Residential electricity prices are forecast to increase by 36 percent in nominal terms between 2011 and 2014.

Northern Territory

As retail prices in the Northern Territory are subsidised by the Government, this report estimates expected movements in the price required to supply electricity to residential customers rather than movements in retail electricity prices. Northern Territory residential electricity prices are forecast to increase by 16 percent in nominal terms between 2011 and 2014.

Western Australia

As retail prices in Western Australia are subsidised by the Government, this report estimates the expected movements in the price required to supply electricity to residential customers rather than movements in retail electricity prices. The price required to supply electricity to residential customers is forecast to increase by 30 percent in nominal terms between 2011 and 2014.