Electricity prices fall to lowest level in years | CroweDM
But the consumer bills remain 32 per cent higher than they were in 2008 after years of cost pressures, pressure on coal and gas energy generators and political disputes over climate change policy.
Household electricity cost 27 cents per kilowatt-hour on average last year, compared to only 20 cents in 2008, the regulator said. “In 2019-20 environmental costs increased by $7 or 5 per cent more than the environmental component in 2018-19.“Similarly, in 2020-21 environmental costs increased by $6 or 4 per cent more than the environmental component in 2019-20.”
Some gains came from federal and state rules that required energy retailers to simplify their offerings to customers with a “default market offer” with a lower price, something former prime minister Malcolm Turnbull announced in August 2018, a few days before he was removed from the position. Prime Minister Scott Morrison continued the policy.“A number of factors likely contributed to the recent reductions.
Yet the ACCC said the bulk of the benefits for consumers have come from changes to supply in the wholesale market.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
One graph that shows why it’s harder for Millennials to buy a houseOne graph from the Reserve Bank lays bare the challenge facing today’s first-home hopefuls, showing the extraordinary growth in housing prices compared to incomes over the past 30 years | elizabethredman
Read more »
Britain faces ‘tidal wave’ of Omicron cases, nationwide boosters flaggedIn a televised statement, PM Boris Johnson said British adults would be offered a third shot of vaccine by the end of this month in response to the Omicron “emergency”.
Read more »
Police believe Margaret River fire was 'deliberately lit' as threat level downgradedPolice are appealing for information after confirming a fire that ripped through Western Australia's world-famous wine and surfing region was deliberately lit.
Read more »
WA bushfires downgraded as police hunt for culpritsBushfires continue to burn in Western Australia for a fourth day and as firefighters battle the inferno, WA Police are looking for suspected arsonists. 9News
Read more »
‘Postcode privilege’: Australia edges towards UK and US levels of inequalityExclusive: COVID-19 and rising house prices are widening divisions in society, as a survey finds Australians are worried about rising inequality | smh_andrew
Read more »
Shock victims of wild Australian housing boomYoung people are often cited as the biggest victims of skyrocketing house prices but there’s another age group impacted that might come as a shock.
Read more »