Power prices mostly heading down but some up, says Australian Energy Regulator

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Many Australians could see a reduction in their energy bill prices, according to an announcement made by the Australian Energy Regulator.

Yet despite the highly anticipated relief for households, experts say the government could be doing more to lower energy costs during the transition period to cleaner energy.The Australian Energy Regulator's announcement on its draft for default market offers comes at a time when cost of living pressures are at their peak.

This potential decrease in prices was the result of a number of factors, such as the drop in generating power, Ms Savage said. This downturn will bring relief to the federal government as well, which has been under pressure to deliver on its pre-election promises. "The largest component of the electricity bill which makes up the 40 per cent is the network cost. And that is not falling. And that's due to a number of reasons. Obviously the augmentation of the network and the investments that network has to do, but it does require scrutiny and we do require response in the electricity distribution network space to make sure that these costs are reducing and consumers benefit overall.

 

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