act electricity retail market
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The ACT is one of the smallest electricity markets in Australia with approximately 300,000 residential customers. There is only one electricity network operating across the territory, which is owned by ActewAGL Distribution, which in turn is owned equally by ACTEW Corporation and SPI (Australia) Assets Pty Ltd.
The ACT Government, through the ICRC, each year sets the maximum prices that can be charged to households on regulated price plans. Power companies have the option to charge below or above these regulated rates for customers on market contracts, however, this does not occur very often in practice. Almost all energy retailers use the regulated prices as their standard prices and then offer discounts on these prices to entice customers.
electricity suppliers in canberra & act
Electricity suppliers, officially called electricity retailers, are companies that sell or retail electricity directly to consumers and/or businesses. Retailers do not necessarily own any wires and poles; they simply purchase electricity wholesale and resell it to the end consumer. They pay the electricity network operators a fee for using their networks to supply power to households and businesses.
Following the the sale of the EnergyAustralia retail business to TRUenergy, as at November 2012 there were only two main electricity retailers selling power and gas to ACT households:
canberra & act electricity prices
The amount you pay for electricity comprises a fixed supply charge (priced in cents per day) plus usage charges per kilowatt hour of electricity that you use (priced in cents per kWh). The more power that you consume in your home the higher your usage charges will be so there is always an incentive to use less power.
Standard power prices are the same no matter where you live in Canberra.
However, electricity prices vary depending upon the type of meter you have at your home. Many homes have single-rate meters, which means you pay the same price per kWh of consumption regardless of time of day. However, an increasing number of households have time-of-use meters (also known as smart meters) where you pay more for usage during business hours but then much less for usage in the evenings, night time and on weekends. Some households might have off-peak meters tied to specific appliances such as hot water or storage heating that work only at night time; in such cases they pay a lower price for this type of usage.
As electricity rates can vary depending upon where you live, the type of electricity meter you have installed and your current electricity provider and plan it is not necessarily a simple task to find cheaper electricity prices in Canberra and ACT. However, with Switchwise you can simply enter your postcode on our homepage, answer a few questions about your energy use and we can show you whether we have been able to find cheaper electricity deals from our panel of suppliers.