{"id":45879,"date":"2020-12-21T07:19:46","date_gmt":"2020-12-20T20:49:46","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=45879"},"modified":"2020-12-21T07:19:46","modified_gmt":"2020-12-20T20:49:46","slug":"australia-electricity-prices-mb1807","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/australia-electricity-prices-mb1807\/","title":{"rendered":"AEMC: Electricity Prices To Continue To Fall"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignnone size-full wp-image-45881\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/australia-electricity-bills-2.jpg\" alt=\"Electricity prices in Australia\" width=\"1200\" height=\"634\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/australia-electricity-bills-2.jpg 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/australia-electricity-bills-2-300x159.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/australia-electricity-bills-2-1024x541.jpg 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/australia-electricity-bills-2-768x406.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>In what&#8217;s been a rather dark year, it&#8217;s always nice to have a bit of good news. Electricity costs look set to continue to fall for many Australian households over the next couple of years, but their mileage will vary.<!--more--><\/p>\n<p>The Australian Electricity Market Commission&#8217;s Residential Electricity Price Trends 2020 report was released late last night. In summary, here&#8217;s what the AEMC is expecting to see happen with electricity prices from FY19\/20 to FY22\/23.<\/p>\n<ul>\n<li><strong>South East Queensland:<\/strong> Reduction of 14% or $190 (annual average drop of 5%)<\/li>\n<li><strong>South Australia:<\/strong> Reduction of 11% or just over $200 (annual average drop of 3.7%)<\/li>\n<li><strong>Victoria:<\/strong> Reduction of 15% or about $170 (annual average drop of 5.3%)<\/li>\n<li><strong>NSW:<\/strong> Reduction of 2% or about $30 (annual average drop of 0.8%)<\/li>\n<li><strong>ACT:<\/strong> Increase of 2% or $45 (annual average increase of 0.7%)<\/li>\n<li><strong>Tasmania:<\/strong> Reduction of 4% or $70 (annual average drop of 1.2%).<\/li>\n<\/ul>\n<p>The report notes estimated pricing outcomes are based on a &#8220;representative consumer&#8221;, which differs in each state &#8211; and there will be regional differences within each state that affect outcomes.<\/p>\n<p>The report doesn&#8217;t include the Northern Territory due to the entry of independent generators to the Darwin-Katherine Interconnected System complicating things. As for WA, the Western Australian Government requested the state not be included in the report due to the effects of COVID-19 in terms of how the McGowan Government is supporting electricity consumers. Electricity prices in WA are set by the State Government as part of the annual State Budget process.<\/p>\n<p>Commenting on the report, AEMC Chief Executive Benn Barr <a href=\"https:\/\/www.aemc.gov.au\/news-centre\/media-releases\/household-electricity-bills-set-fall-over-next-three-years\">said<\/a>:<\/p>\n<blockquote><p>\u201cThe three key drivers of household electricity bills \u2013 wholesale costs, network costs and environmental costs \u2013 are all falling, which accounts for the overall drop that we are seeing.&#8221;<\/p><\/blockquote>\n<p>The AEMC says the main reasons for the drops are lower gas prices and the introduction of new sources of energy generation such as wind and solar power.<\/p>\n<h2>The Liddell Wildcard<\/h2>\n<p>The report shows an uptick in electricity costs 2022\/23 &#8211; this is due to the closure of Liddell power station at the end of the period pushing up wholesale prices. However, the AEMC notes the recent release of the NSW government&#8217;s renewables-focused <a href=\"https:\/\/energy.nsw.gov.au\/government-and-regulation\/electricity-infrastructure-roadmap\"> Electricity Infrastructure Roadmap<\/a>.<\/p>\n<blockquote><p>&#8220;It follows that the increase in 2022-23 price is by no means certain,&#8221; states the AEMC.<\/p><\/blockquote>\n<p>Liddell Power Station is a clapped-out coal-fired generator in Muswellbrook, New South Wales being held together with cloth tape, hay bale string and a few prayers. It is due to <span class=\"hgKElc\">close in 2023, after 50 years of operation &#8211; something the Federal Government doesn&#8217;t want to see happen. <\/span><\/p>\n<p><span class=\"hgKElc\">Just last week, a worker at Liddell was <a href=\"https:\/\/www.agl.com.au\/about-agl\/media-centre\/asx-and-media-releases\/2020\/december\/liddell-incident\">seriously injured<\/a> after one of the power station\u2019s transformers failed. As at late last week, it was expected Liddell Unit 3 was to be out of action for up to two and a half months.<\/span><\/p>\n<p>As to why the ACT may see increased electricity prices over the FY19\/20 to FY22\/23 period, this has been primarily attributed to an expected increase in regulated network costs of 14.6 per cent over the reporting period driven by an increase in distribution and transmission costs; partly due to previous under-recoveries and higher operating expenditure.<\/p>\n<p>One of the standout points of the report relates to South Australia where wholesale electricity costs are expected have dropped by 41.0 per cent over the reporting period, driven by increasing uptake of solar power. SQ&#8217;s Ronald recently pointed out <a href=\"https:\/\/www.solarquotes.com.au\/blog\/sa-renewable-energy-generation\/\">more than 60%<\/a> of South Australia\u2019s electricity generation is now renewables-based.<\/p>\n<p>The AEMC Residential Electricity Price Trends 2020 report <a href=\"https:\/\/www.aemc.gov.au\/sites\/default\/files\/2020-12\/2020%20Residential%20Electricity%20Price%20Trends%20report%20-%2015122020.pdf\">can be viewed here<\/a>.<\/p>\n<p>On a related note, you can learn more about the <a href=\"https:\/\/www.solarquotes.com.au\/blog\/solar-electricity-bill-breakdown\/\">seven main components of electricity bills here<\/a>.<\/p>\n<p>While cheaper bills are good, zero electricity bills are even better &#8211; learn more about <a href=\"https:\/\/www.solarquotes.com.au\/solar101.html\">solar<\/a> for your home or business.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In what&#8217;s been a rather dark year, it&#8217;s always nice to have a bit of good news. Electricity costs look set to continue to fall for many Australian households over the next couple of years, but their mileage will vary.<\/p>\n","protected":false},"author":17,"featured_media":45881,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-45879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AEMC: Electricity Prices To Continue To Fall - SolarQuotes Blog<\/title>\n<meta name=\"description\" content=\"Electricity costs look set to continue to fall for many Australian households over the next few years, but their mileage will vary.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/australia-electricity-prices-mb1807\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AEMC: Electricity Prices To Continue To Fall\" \/>\n<meta property=\"og:description\" content=\"Electricity costs look set to continue to fall for many Australian households over the next few years, but their mileage will vary.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/australia-electricity-prices-mb1807\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-20T20:49:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/australia-electricity-bills-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"634\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Bloch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/australia-electricity-prices-mb1807\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/australia-electricity-prices-mb1807\/\"},\"author\":{\"name\":\"Michael Bloch\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/66afd571aa00c2e442f0192ebac2f6f1\"},\"headline\":\"AEMC: Electricity Prices To Continue To Fall\",\"datePublished\":\"2020-12-20T20:49:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/australia-electricity-prices-mb1807\/\"},\"wordCount\":616,\"commentCount\":5,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/australia-electricity-prices-mb1807\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/australia-electricity-bills-2.jpg\",\"articleSection\":[\"General Solar &amp; 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Released this morning, the AEMC\u2019s annual report on electricity price trends predicts residential electricity costs\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"AEMC electricity price trends","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/12\/electricity-price-trends-report.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/12\/electricity-price-trends-report.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/12\/electricity-price-trends-report.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/12\/electricity-price-trends-report.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/12\/electricity-price-trends-report.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":36112,"url":"https:\/\/www.solarquotes.com.au\/blog\/aemc-report-electricity-prices\/","url_meta":{"origin":45879,"position":1},"title":"AEMC Report &#8212; Electricity Prices To Fall Thanks To Renewable Energy","author":"Ronald Brakels","date":"January 20, 2020","format":false,"excerpt":"If you don't live in Western Australia I have good news.\u00a0 A report released on December the 9th by the Australian Energy Market Commission (AEMC) says electricity prices will fall in all states except WA. Over the next two and a half years the national decrease in household electricity bills\u2026","rel":"","context":"In &quot;Electricity Prices&quot;","block_context":{"text":"Electricity Prices","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/electricity-prices\/"},"img":{"alt_text":"Wind energy and solar power - AEMC","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/cheap-renewable.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/cheap-renewable.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/cheap-renewable.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/cheap-renewable.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/01\/cheap-renewable.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":47753,"url":"https:\/\/www.solarquotes.com.au\/blog\/renewables-wholesale-electricity-mb1886\/","url_meta":{"origin":45879,"position":2},"title":"Renewables Help Achieve Lowest Wholesale Electricity Prices In Years","author":"Michael Bloch","date":"February 19, 2021","format":false,"excerpt":"Wholesale electricity prices in the National Electricity Market last year were at their lowest since 2015 says the Australian Energy Regulator. The AER's latest Wholesale Markets Quarterly Report looks at the entire year, but with a special focus on the final quarter. 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