The Australian Energy Regulator has published its contribution determination for the Electricity Infrastructure Roadmap that will see an average household save $130 on their energy bills.
New energy infrastructure is being built to help NSW transition to cleaner, more reliable and cheaper energy.
As part of that transition, costs of around 25-35 cents a week or the equivalent of three coffees a year are expected to be recovered from the typical household electricity consumer in financial year 2023-24.
Energy Minister Matt Kean said the Roadmap including these costs delivers an outcome that is $130 less than if the Roadmap wasn’t in place.
“The NSW Electricity Infrastructure Roadmap remains critical to replacing aging power stations as they retire with secure, affordable, reliable and sustainable energy,” Mr Kean said.
“The Roadmap will deliver value for money by introducing more low cost renewables and storage into the grid and putting downward pressure on electricity bills.
“Overall, the Roadmap including these costs will see typical household bills $130 less a year than if the Roadmap wasn’t in place.”
The requirement for a determination was set out in the Roadmap legislation, which passed with cross party support.
Since the Roadmap was released in late 2020, significant work has been undertaken to establish Roadmap entities and begin delivering projects across the State. This includes the development of the Waratah Super Battery at Munmorah and procurement of network infrastructure for the Central West-Orana Renewable Energy Zone.
The NSW Liberal and Nationals Government has implemented the Commonwealth’s coal cap that has already seen electricity futures prices fall by more than 40 per cent next financial year.
Energy bill rebates and assistance worth $330 million are available and a re-elected Liberals and Nationals Government will also ensure every household receives $250 off their bill for searching for a better deal.
Be the first to comment