Queensland's electricity could be cheaper from next year
Household electricity charges could be reduced by around 10 per cent and small businesses’ by around 11 per cent from 2020.
If the Australian Energy Regulator accepts Ergon Energy and Energex’s proposed reductions in distribution network charges next year, electricity could be much cheaper.
This would mean the average Queensland household power bill could fall $58 from next year, and small businesses by $97, as Queensland’s publicly-owned energy businesses streamline network costs.
Energy Minister Dr Anthony Lynham said the savings came from Ergon Energy and Energex’s proposed reductions in distribution network charges from 2020.
This comes on top of the existing savings flowing from the Government’s Affordable Energy Plan, including:
• a $50 annual rebate already paid this year and with further $50 payment scheduled for 2019, and
• a two-year price cap on power prices.
“Electricity prices in Queensland are now, on average, the cheapest of all mainland states in Australia,” Dr Lynham said.
“If the Australian Energy Regulator accepts these proposals, this means further savings for Queensland families.”
The savings are in Energy Queensland’s network investment plans for 2020 to 2025, submitted on Friday to the independent Australian Energy Regulator (AER).
In its submission, Energy Queensland says it will reduce overheads by 10 per cent over the five years through a combination of measures including material and contract savings from the merger of Ergon and Energex and “digital transformation” with new technology.
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