The Australian Energy Regulator (AER) has approved the 2020-21 electricity distribution tariffs proposed by TasNetworks.
These tariffs comply with the requirements of the TasNetworks 2019-2024 network revenue determination. The determination sets the revenue TasNetworks can recover from customers over five years for the cost of delivering electricity supply.
The network component of the typical annual bill for TasNetworks customers is $84.62 lower for households, and $143.16 lower for small business, compared to the previous year. This change will come into effect from 1 July 2020.
The average residential energy bill consists of several cost components including retail, wholesale, network and green costs. This decision relates to the network cost component only. As other costs may be moving in different directions, changes in retail bills may differ from the estimates provided. In addition, we note the Tasmanian Government has announced that it has applied a price increase cap to electricity retail bills for 12 months.
The AER acknowledges that energy bills are a concern to many households and businesses at this time. We encourage consumers to use the AER’s EnergyMadeEasy website, our free and independent price comparison tool, to find the best deal to suit their energy needs.
The AER also acknowledges the impact COVID-19 is having on consumers and the industry. Our Statement of Expectations outlines how we are working with industry to support customers.