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Archive for the ‘electricity prices’ Category

IPART recommends 8 to 10 cents per kWh for NSW solar feed-in tariff

Thursday, November 24th, 2011

Following the closure of the Solar Bonus Scheme to new participants on 1 July this year, the NSW Government requested the NSW energy regulator Independent Pricing and Regulatory Tribunal (IPART) to recommend a ‘fair and reasonable’ value for a feed-in tariff for customers who are not in the Solar Bonus Scheme. However, the terms of reference required IPART to ensure that its recommendations did not result in an increase in NSW electricity prices nor require funding from the NSW Government budget. In other words, any future feed-in tariff for these customers must be subsidy-free.

Today IPART released its draft report on the tariffs it thinks should be paid by electricity retailers to their customers for surplus electricity that is generated by customers’ solar photo-voltaic (PV) units and exported into to the grid. The draft report, entitled “Solar feed-in tariffs – Setting a fair and reasonable value for electricity generated by small-scale solar PV units in NSW”, recommends that NSW customers be paid between eight and ten cents per kilowatt hour (kWh) for solar power exported back to the electricity grid. IPART has used as the basis for their recommendation the direct financial gain electricity retailers are estimated to make when solar PV customers export electricity to the grid. IPART expects their recommended price to increase when the carbon tax takes effect on 1 July 2013 but at this time cannot say by how much.

According to the draft report many stakeholders suggested that the feed-in tariff be set equal to the retail price charged to customers by power companies for the electricity they consume (currently 20 to 30 c/kWh). Whilst this appears a sensible suggestion on the surface it does not take into account the fact that around half of the retail electricity price includes fixed network costs and there are additional costs to retailers in meeting green energy requirements such as the Renewable Energy Target (RET).

If you feel up to reading IPART’s Draft Report you can find a copy here. If you wish to air your views on this matter IPART is holding a Public Forum on 12 December and is accepting submissions on its draft report until 23 January 2012.

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Great new NSW electricity deals now available

Monday, August 15th, 2011

Following AGL’s launch of aggressive energy deals a couple of months ago backed by a high-profile NSW TV campaign, competitive activity has now taken another step-up in the New South Wales retail electricity market with Dodo Power and Gas entering into the fray last week. Dodo, a well known brand in the broadband and mobile markets, launched a range of electricity offers in Victoria late last year and is now building up its presence in other states.

Dodo Power & Gas has entered the NSW market aggressively with base rates below the current regulated tariffs combined with a market-leading pay-on-time discount. Dodo is offering the following two electricity plans at launch:

  • No term contract with 5 per cent pay-on-time discount on your usage; and
  • 12 month contract with 10 per cent pay-on-time discount on your usage.

Bottom line is that if you are willing to commit for 12 months you can double your discount.

Over the past few weeks both Red Energy and Australian Power and Gas have launched competitive new NSW electricity offers. Red Energy has enhanced its Energy Bonus Saver offer – a 2 year contract with 5 per cent pay-on-time discount – with the addition of a $75 sign-up bonus credited to your first bill. Australian Power & Gas recently launched a new product called Smart Saver 8, which is a 3 year contract that offers an 8 per cent pay-on-time-discount on your electricity usage charges.

To determine whether one of these offers might provide a better deal on your power bills please be sure to perform an energy comparison on our main site and see how much you might save if you switch power  suppliers.

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Red Energy ups the ante in NSW with a 7% electricity discount

Tuesday, March 15th, 2011

Following the recent sale of the three NSW-Government-owned electricity retailers to Origin Energy (which bought Integral Energy and Country Energy) and TRUenergy (which bought Energy Australia), competition for NSW customers is finally starting to heat up.

Red Energy, the Snowy Hydro-owned electricity retailer which launched into NSW in June last year, has introduced a new electricity deal with higher discounts to encourage NSW consumers to switch.

Red Energy’s new electricity plan is called Living Energy Saver – it offers a 7 per cent pay-on-time discount on electricity usage and supply/service charges. This would represent a saving of approximately $105 per year on a typical $1500 annual household electricity bill. Living Energy Saver is available only on a 2 year contract.

After years of inactivity we expect to see competition in the NSW market really heat up this year so stay tuned for more news on great offers.

Go to the Switchwise homepage to start a comparison to see how Red Energy’s new Living Energy Saver compares to your current power company.

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