Power shocker — $160 rise
(News article from The Age - Josh Gordon, November 30, 2007)

MOST Victorian families will be stung by a $160 increase in their annual power bills under a new price regime to be announced by the State Government today.

The drought and booming demand for power have pushed the cost of generating electricity to unprecedented levels, with the added pain set to flow through to consumers from January 1.

Energy Minister Peter Bachelor will today announce increased basic prices for the three biggest retailers — Origin Energy, AGL and TRUenergy — of up to 17%.

That means a typical household consuming 6500 kilowatt hours of peak and off-peak electricity can expect their annual bills to rise from about $945 to $1106, an increase of $161. Larger families living in bigger houses can expect to pay up to $200 more.

The drought has severely limited Australia's hydro-electricity capacity, forcing power generators to tap into more expensive and polluting options, particularly gas, to meet booming demand.

Families can also expect to be stung by higher water bills.

A series of major water projects planned by the State Government means an increase of 14.8% is already locked in from July next year, adding about $80 to most bills. Water prices are widely expected to double over the next five years.

Other states around Australia have also been increasing their electricity prices, with bills rising by 16% in Tasmania, 11% in Queensland, 7% in NSW and 14% in the ACT.

Origin spokesman Tony Wood said Origin's basic price would rise by about 13%, with roughly two-thirds of the increase due to a higher wholesale price as the drought forced up generation costs.

Mandatory renewable energy targets, which are being phased in, will also have an impact.

"We are starting to see a gradual increase coming in through climate change policies, Mr Wood said. "By having to buy a certain proportion of our electricity from renewable sources, which is rising every year, it's gradually pushing our costs."

Victorian Greens MP Greg Barber said the impact of climate change through the drought was proving to be more expensive than tackling the problem.

Mr Bachelor's spokesman, Dan Ward, last night declined to comment on the planned increase, which will affect basic tariffs covering more than half of all Victorian households.
 


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