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Electricity prices are falling. So why are Canberra's household power bills about to rise?
6 Apr 2021
From your ABC
Canberra households will be paying more for electricity from July — about $5 a week more.
The sole company that runs the ACT's power network, EvoEnergy, has requested the increase from the network regulator, which will almost certainly approve it.
EvoEnergy says its charges need to go up because electricity prices are going down.
If that sounds confusing to you, you're not alone — the workings of Australia's electricity markets are complicated.
Let's go through what has happened and explain why.
The renewable energy capital
The ACT is one of the main customers of South Australia's massive Hornsdale wind farmCanberra's entire electricity use is bought from renewable suppliers, such as wind, solar and hydro-power stations.To ensure this, the ACT government has contracts with generators across the country, including the massive Hornsdale Wind Farm in South Australia. However, to lock in that supply and to help fund the construction of those generators, the government needed to offer them an attractive, fixed price for their electricity. Energy Minister Shane Rattenbury says those contract prices were always expected to be slightly above the market price — a difference of about $5.50 a week per household. This is the expected,
direct cost to Canberrans of living in a city with 100 per cent renewable electricity.
