And so, the first day of the new financial year is in and Australia's armies of accountants and tax professionals are sharpening their pencils.
New South Wales, Victoria and South Australia will all see decreases in the benchmark price for electricity. For residential customers in south-east Queensland, reference prices will edge up 4.2 per cent – or $83 – on last year. "Wholesale prices have now unwound and are pretty much back to baseline and have been for quite some time," Mr Foxworthy said."So while we can expect to see some moderate price declines, that's what we're anticipating, prices are still high with a long-term view."Amid the sustained high prices for electricity, governments are, to varying degrees, stepping in to try to cushion the pain.
It's a similar story in Western Australia, where gushers of resources and GST money have enabled the state government to shell out $400 as a "credit" against every householder's power bill. It's been a successful strategy for the most part thanks, at first, to generous state and federal incentives that encouraged people to adopt the technology.
It involves customers paying 1.2 cents for every kilowatt hour of electricity their solar panels put back into the grid during the sunniest hours of the day – between 10am and 3pm.For starters, the charge only applies over a certain monthly threshold of solar exports ranging from 192kW/h kilowatt hours to 212kW/h.
Finn Peacock, the founder of SolarQuotes, said the likes of two-way pricing – and export limits for certain types of big new systems – were a reflection of the remarkable success of Australia's solar industry.
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