Today I received notice of planned increases to electricity prices that come into effect from 1 July 2012. The figures that follow are GST inclusive:
- the quarterly supply charge will rise from $53.20 to $65.20
- The quarterly peak rates on the first 1,750kWh will rise from $22.935 to $26.84
- The quarterly peak rates on the balance of kWh will rise from $31.625 to $37.29.
These are large percentage increases. I haven't calculated the total dollar amount because I have yet to receive my first bill at my new house.
According to the NSW regulator, just over half the price rise is due to the carbon tax, the other to upgrading poles and wires in NSW.
I checked the Commonwealth Government's compensation package. My particular personal circumstances mean the the only benefit I gain will come from the increase in the tax free threshold.
I am not complaining just at the moment. But you can see the problem the Australian Government faces in selling the whole thing. The costs are actually reasonably clear, the benefits less so. Further, the benefits will be quickly internalised, while the costs will continue in clear visibility.
I suspect that the Government was just too tricky in trying to go the way it did. Maybe better to have left the costs stand, and then introduce subsequent measures using the money. Just a thought.