Tasmanian households could see their power bills soar by as much as $227 a year after the state’s independent regulator announced an energy price hike from July 1.
The Tasmanian Economic Regulator, which is responsible for economic and energy supply issues in the Apple Isle, announced standing electricity prices would rise by 11.8 per cent for homes and businesses from next month, with residential bills anticipated to jump by up to $227 a year or $4.37 a week on average. Small business customers will see a yearly bill hike of $176.
Prices are expected to rise the most for customers on the Lights and Power tariff (Tariff 31) and Heating and Hot Water tariff (Tariff 41). Those on a time of use tariff (Tariff 93) or that hold a concession will see a slightly smaller increase.
Recent high wholesale electricity costs and external pressures from generational supply were behind the price hike, Tasmanian Economic Regulator Joe Dimasi said in a statement.
“In particular, wholesale electricity costs are 37 per cent higher than in 2021/22 and account for around 10.4 per cent of the 11.88 per cent price increase,” he said.
Tasmania is the latest state to announce a significant increase to standing electricity offers due to the ongoing energy crisis, with New South Wales, Victoria, south-east Queensland and South Australia setting out their own July 1 price increases late last month.
Kane Ingham, chief operating officer at Aurora Energy, Tasmania’s government-owned electricity and natural gas retailer, urged customers worried about the price increases to reach out to their retailer or seek support from the state government’s Winter Energy Assistance Package.
“We encourage any customer who may be struggling to keep on top of their energy bill and are in need of support to get in contact,” Mr Ingham said. “We have the support, services and strategies available to drive customer’s energy bills down.
“Supporting each other is an integral part of what it is to be Tasmanian and it’s why we are so proud to be a part of the Tasmanian community.”
Alongside the price hike, the regulator also said that the minimum solar feed-in tariff rate would rise to 8.883c per kilowatt hour (kWh) for the 2022-2023 year. Households with solar panels currently receive a minimum rate of 6.501c/kWh for exporting solar energy to the grid.
Compare Electricity Prices in Tasmania
Here are the published electricity deals from the retailers on our database for Tasmania. These cost estimates are based on a household with an annual electricity usage of 2,947kWh/year for a residential customer on a single rate tariff at a selected postcode in Tasmania, but prices will vary depending on your circumstances. Use our comparison tool for a more specific comparison in your area. This table includes featured products from referral partners. Our database may not cover all deals available in your area, and please check retailer websites for up to date information.
What help can you get from Tasmania’s Winter Energy Assistance Package?
The Winter Energy Assistance Package is the state government’s new initiative to help consumers combat rising energy bills. Through this package eligible households have access to the following:
- $180 Winter Bill Buster Discount: Eligible electricity concession account holders can benefit from this discount on their next bill from August 1 2022.
- Energy Loan Saver Scheme Tasmania: Residential customers, small businesses and residential landlords can access an interest-free loan of up to $10,000 to invest in energy-efficient products for their property.
- No charges or aurora+: From July 1 2022 customers using aurora+ to monitor their electricity usage will no longer have to pay a fee. This service is provided by Aurora Energy and aims to help customers reduce debt and avoid bill shock.
- Aurora Customer Support Fund and YES payment: The state government has extended Aurora Energy’s YES program for a further 12 months. This is the retailer’s financial hardship program that rewards customers with up to $200 credit if they meet their payment commitments at their quarterly review.
More information on the Winter Bill Buster Discount and Energy Loan Saver Scheme is expected to come in the following weeks. For more information about aurora+ or the YES program, visit the Aurora Energy website.
Image credit: tommaso79/Shutterstock.com.
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