QCA release 2009/2010 electricity price rise

Minister for Natural Resources, Mines and Energy and Minister for Trade
The Honourable Stephen Robertson
09/06/2009
QCA release 2009/2010 electricity price rise
 
Minister for Natural Resources, Mines and Energy Stephen Robertson has today been advised by the independent Queensland Competition Authority (QCA) of their decision to increase electricity prices by 11.82% for the 2009/10 financial year.

Together with the QCA's remade decision on the 08/09 figure announced last week, the overall impact for consumers from 1 July 2009 will be an increase of 15.73%

"For consumers with an electricity bill of around $350 a quarter, they will pay an additional $55 on their bill, assuming the electricity used has remained the same," Mr Robertson said.

"This equates to an extra 60 cents per day.

"It brings me no joy what-so-ever to see these prices rise and I acknowledge these increases come at an unfortunate time for householders who may be facing financial hardship," Mr Robertson said.

"However these price rises reflect the true cost of delivering a reliable and robust energy network which is keeping up with increased demand.

"The QCA has found rising network costs which include transmission and distribution, and the increasing cost of energy generation, account for approximately 90 per cent of the total cost of supplying energy," Mr Robertson said.

Between 2010-2015, Queensland will have invested almost $9 billion on electricity transmission and distribution infrastructure to cope with increased demand.

"Despite the increasing cost of supplying electricity to consumers, Queenslanders continue to pay some of the lowest electricity prices in Australia.

"New South Wales announced price increases for 2009-10 of around 20%, Western Australia has increased prices by 15% with a further 10% from 1 July and the Northern Territory will have a price increase of around 18% next financial year," Mr Robertson said.

The new notified prices will come into effect for non-market contract consumers from 1 July 2009.