Households across the Lithgow-Blue Mountains-Rylstone area will be in for a nasty shock when their next electricity bill arrives from Integral Energy or from whoever their energy provider might be.
In the case of Integral Energy the tariff went up a whopping 21.3 per cent from yesterday — and with some retailers of electricity the increase will be even greater.
And that means that NSW has the dubious distinction of having the most expensive electricity in Australia.
New South Wales households will now be paying an average of 20.8 per cent more for their electricity.
The result will be an annual increase in the average household electricity bill of around $296, according to Shaun Johnson, CEO of the independent energy price comparison service, Switchwise.com.au.
Switchwise.c om.au is a free and impartial online service that provides consumers with an easy way to compare electricity and gas prices and plans offered by all energy suppliers.
Mr Johnson says around half of the retail price rises is due to increases in network charges to fund improvements in the electricity network’s reliability.
Significant increases in the wholesale costs incurred by EnergyAustralia, Integral Energy and Country Energy in purchasing electricity were also a significant contributor to the price increases.
According to Switchwise:
* Electricity price rises will range from 20.2 to 21.8 per cent, equivalent to a hike in annual bills of $266 to $321 depending upon where in NSW you live.
* Customers in Country Energy’s network area, which covers much of the regional and rural areas of NSW, will see the greatest dollar increases in their electricity bills by $305 to $321 per year.
* Regional NSW households will now pay the highest prices in Australia for their electricity.
They will pay up to 28.8 per cent more for their electricity each year compared with households in other parts of NSW.
* Customers in Energy Australia’s network area, which includes the Sydney CBD and suburbs, will see the highest percentage price increase in the State but will still pay $247 to $428 per year less than customers living in other areas of NSW.
* Customers in Integral Energy’s network area, which includes Sydney’s Greater West, Lithgow, the Southern Highlands and Illawarra, will see their annual electricity bills rise by 21.3 per cent or $293.
Mr Johnson says that while the price hikes are very bad news for the household budget there might be some benefits to consumers in the form of new product offerings and bigger discounts should the NSW market now entice many of the newer energy retailers, already competing aggressively in Victoria, to cross the border.
“It is now more important than ever that consumers compare their current energy supplier to other offers available in the market to make sure they are getting the best deal available“, he says.
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