NSW power prices hike 18.1 percent
NSW electricity bills will rise by an average of 18.1 per cent from July 1, the state’s pricing regulator says. EnergyAustralia customers will suffer a 20.6 per cent rise under tariffs handed down by the Independent Pricing and Regulatory Tribunal (IPART).
Country Energy customers will be hit by a 19.7 per cent rise and those with Integral Energy face an 11.8 per cent rise.
The rises came on top of average increases of 10 per cent and 17 per cent across NSW in 2010/11 and 2011/12, respectively, IPART said.
The regulator has blamed rising network costs and the cost of compliance with federal and state government schemes such as carbon pricing.
The price increases announced on Wednesday are slightly higher than those in a draft determination in April.
IPART chairman Dr Peter Boxall said he was concerned about the increases and had made recommendations to try to limit future rises.
“We would like to ensure that the electricity industry works for the long-term interests of customers,” he said in a statement.
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