• NSW households to pay more for power as wholesale electricity costs rise
NSW households to pay more for power as wholesale electricity costs rise
26 Apr, 2017, 1 Comment

Summary: Residents in New South Wales will have to pay more for energy bills from July as a result of increasing wholesale electricity prices.....

NSW Energy and Utilities Minister Don Harwin confirmed the increases were due to the closure of South Australia’s Northern Power Station and Victoria’s Hazelwood coal mine.

Wholesale electricity prices in the state have since increased 57 percent, according to the Australian Energy Market Operator.

“The only way to put downward pressure on the wholesale price is to attract new investment in generation for the national electricity market,” Mr Harwin told 9news.com.au today.

The Daily Telegraph reported yesterday the price increase totalled “up to $400” per annum for households.

Mr Harwin said the quoted numbers “were not the government’s figures,” but did confirm a price rise.

“We’ll have to see what the retailers offer to know what the prices will be,” Mr Harwin said.

Australian Power Project’s Nathan Vass told the Daily Telegraph another reason for surging electricity prices was “an increased reliance on renewable energy.”

Mark Bretherton from the Clean Energy Council said comments made by the Mr Vass were “inaccurate”.

“Renewable energy only produces 12 percent of the electricity in NSW and only one project came online in the state last year,” he said.

“There is no way that something which produces 12 percent of less than half of a power bill can have the effect claimed by (Mr) Vass.”

Mr Harwin said he was “concerned about households and businesses facing bill rises mid-year.”

“We need national market reform. We need the Federal Government and the states to lock in a sensible plan, and take the politics out of the issue in the middle of the year when the Finkel Review is delivered.”

In the meantime, he encouraged consumers to “shop around” to find the best deal.

www.9news.com.au 26/4/2017

  • MyPassion

    Bruce McLellan
    01 May, 2017

    Western Power's 130,000 staff asked to accept pay freeze! Really! The staff are being made redundant and asked to take a pay freeze, yet, NSW wants and increase on charges? A few months ago electricity was cheap and the utilities complaining and fighting about starting up a power station to supply SA for a blackout. Now Au is bragging they have the largest solar farms in the world, they have the most people on home solar grids which has driven prices down, yet they want more money? Yet, I have seen nothing to say why they need more money as ceraitnly the world market on infrastructure projects is depressed, so where is this money going that they need? This area is certainly manipulated by greedy companies and Joe Public needs to awaken and switch off these companies. The whole world has a quiet recession going on and it is shared with companies as well as the public and governments. This is for sure 'one for all and all for me' scenario. A very manipulated market indeed.
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