Apartment dwellers and caravan park residents could save hundreds on energy bills
06 May 2020
More than 100,000 Victorians living in apartments, caravan parks and retirement villages could save hundreds of dollars a year on electricity bills under a proposal from the state’s energy regulator.
The Essential Services Commission has proposed a maximum price for electricity sold to embedded network customers based on the existing Victorian Default Offer, which reflects the independent regulator’s view of the efficient price of supplying electricity in Victoria.
Essential Services Commission pricing director Marcus Crudden says residential embedded network customers could save between $180 to $370 while small businesses could save $900 to $2200 annually.
“Victorians living in embedded networks will be able to access a fairer deal under our proposed new maximum price.
“Customers currently in these networks are not fully covered by the same price protections as other Victorians and this changes that,” he said.
The proposed maximum prices in the draft decision are based on estimates of the impact of the current Victorian Default Offer on standing offer prices prevailing in May 2019.
Under the plan, exempt sellers (sellers of electricity who are not required to hold a licence) would still be able to offer embedded network customers deals below the maximum.
There are around 104,000 residential, caravan park and retirement village customers and 18,000 small and large business customers in embedded networks across the state.
Interested stakeholders are invited to make submissions on the draft decision online through Engage Victoria until 15 June 2020 with feedback being used to inform a final decision.
