ACT Electricity Price Rise; Power Bills Increase by 11.95%
From July 1 2021, ACT residents will see their electricity prices increase by up to 11.95% to cover the 36% increase in network costs associated with a transition to 100% renewable energy.
Why are electricity prices rising in Ngunnawal country (Canberra)?
Evoenergy is the local energy distributor for ACT, responsible for around 52% of the charges residents receive from their energy retailers. These network & jurisdictional charges cover distribution and transmission costs, as well as renewable schemes, taxes and levies from the ACT state government.
On the 14th May 2021, the Australian Energy Regulator (AER) approved Evoenergy's pricing proposal for 2021-2022, which included a maximum price increase of 11.95%*. This was introduced to cover the cost of the ACT Government’s large-scale solar scheme and transition to 100% renewable energy.
How much more will you pay for electricity in Canberra?
The AER estimates that homeowners will face an extra $241 a year in power bills whilst small business owners are looking at an additional $1,476. This is quite a broad figure, so we spoke to some of Canberra solar community to get some more information on exactly how these increases will work. One customer provided us with this infographic from ActewAGL, which clearly shows how their tariffs are changing, and why.
Which ACT Energy Retailers are increasing their prices?
The Australian Energy Regulator (AER) approved the price increase across the Evoenergy Network, so it's likely all retailers on the network will follow in the footsteps of ActewAGL.
How solar can help you survive the price rise
If you've been thinking about solar, and you live in ACT, this could be the perfect opportunity to make the switch.
Econnect Solar customers in Canberra are saving $100s every quarter by making the switch to solar. With the right solar set up you could cover that $241/year increase in just a few months by turning sunlight into power.
Find out how much you could save by filling out our solar savings calculator, or by setting up your covid-safe in-person or virtual energy assessment with a local solar specialist.
*If you're concerned about the price rise and how it will impact your financial situation, please contact your energy retailer to discuss options for financial assistance.