NSW State Member for Tweed Geoff Provest says the new NSW Government is committed to providing easily accessible assistance to households following the release of a draft report that reveals higher than expected rises in electricity prices.
The Independent Pricing and Regulatory Tribunal (IPART) report proposes an annual electricity price increase of between 16 and 18 per cent per household, an increase of six per cent on previously estimated rises.
Mr Provest said that he recognised that many Tweed families are already experiencing financial strain and will struggle to meet any additional burden placed on household budgets.
“Much of these price rises are a result of Labor’s mismanagement of the electricity sector,” Mr Provest said.
“We recognise that for many families, the proposed increases will hit household budgets hard.
“I can assure families the Liberal/National Government is doing everything it can to minimise the impact of price rises and prevent such massive increases in the future.”
Following the release of the IPART report, Premier Barry O’Farrell outlined the Government’s three point action plan:
1. The introduction of a $200 Low Income Household Rebate, available to customers on low or fixed incomes from July 1, 2011. The rebate will be funded by the merger of three electricity distributors into two, rising to $235 by 2014.
2. An immediate review of the electricity network license conditions to halt any over-spending which may be forcing up power prices.
3. Seek compensation from the Federal Government to offset the price rises caused by the Commonwealth’s Renewable Energy Target Scheme. These were identified by IPART as the major reason for the huge increase in power prices.
The Government will also be making a submission to IPART and is requesting advice on containing future costs.
“We require urgent advice to ensure any future price rises are as low as possible. NSW families have had enough of soaring power prices and it’s time something is done,” Mr Provest said.
Mr Provest also said he was appalled that the NSW Labor Party had held back the IPART report until after the March State election, which was “a disgusting attempt to hide the price rises from consumers”.
“We can’t unwind the incompetence of the past 16 years but we have a duty to do all we can to help families manage the impact of these price rises,” Mr Provest said.
The Liberal/National Government has also promised to give 1.4 million NSW residents access to rebates under the Family Energy Rebate, to be implemented from July 1, 2012.
Electricity customers are invited to comment on the IPART report until May 12, 2011, with Mr Provest encouraging those concerned about the proposed price increases to make a submission.
“Information on how to make a submission to IPART or take part in the consultation process, visit IPART’s website at www.ipart.nsw.gov.au or call my office on 07 5523 4816 if you do not have access to the Internet,” Mr Provest said.
For information on how electricity price increases may affect your bills and what measures are available to help, visit www.industry.nsw.gov.au/energy/customers/questions-electricity-gas-prices
