{"id":14258,"date":"2021-12-13T13:30:37","date_gmt":"2021-12-13T13:30:37","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=14258"},"modified":"2021-12-13T13:30:37","modified_gmt":"2021-12-13T13:30:37","slug":"accc-confirms-electricity-prices-have-continued-to-fall-under-morrison-government","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2021\/12\/13\/accc-confirms-electricity-prices-have-continued-to-fall-under-morrison-government\/","title":{"rendered":"ACCC confirms electricity prices have continued to fall under Morrison Government"},"content":{"rendered":"

Household electricity prices across the National Electricity Market (NEM) have fallen to eight-year lows under the Morrison Government, driven by key government reforms, including the default market offer price cap.
\nThe Australian Competition and Consumer Commission\u2019s (ACCC) latest report from its ongoing inquiry into the NEM confirms electricity prices have fallen substantially for both households and business customers over the past two years.
\nThe ACCC report found the average annual cost of electricity for a residential customer in 2020\u201321 was $1,434, down by $128 or 8 per cent across the past two financial years. Costs for businesses have fallen even further, down 10 per cent for small businesses over the last two years, and down 12 per cent for large businesses.
\nThe ACCC also said it expected electricity prices would continue to fall over the coming 12 months as the impact from falling wholesale costs over the last two years continue to flow through to consumers.
\nTreasurer Josh Frydenberg said the Government has a clear expectation that these falling costs are passed onto consumers, and that the energy market delivers the best outcomes for Australian households and businesses.
\n\u201cThe ACCC has found electricity prices are expected to fall further over the next year, due to lower wholesale costs, reflecting lower costs for coal and gas, increased supply from solar and wind generation, and lower transmission costs,\u201d the Treasurer said.
\n\u201cThese findings are great news for Australian families and businesses, with lower electricity costs further supporting Australians as the economy recovers from the impacts of the COVID-19 pandemic.\u201d
\nMinister for Industry, Energy and Emissions Reduction Angus Taylor said government programs, such as the Default Market Offer and the \u201cbig stick\u201d legislation for energy companies, are directly helping customers to benefit from reduced electricity costs.
\n\u201cHouseholds and businesses rely on affordable, reliable power to grow and thrive. They cannot afford a repeat of the doubling of electricity costs we saw under Labor, driven by the carbon tax and goldplating of our poles and wires.\u201d
\n\u201cThis is why the Government\u2019s plan for energy has been about putting customers first, and making sure households and businesses have more money in their hip pockets.\u201d
\n\u201cOur plan is delivering real savings for Australians, and this is yet another report, following recent reporting from the AER, the AEMC and the ABS, showing how this government\u2019s actions are supporting sustained and substantial electricity price falls.\u201d
\n\u201cThe government is committed to ensuring access to affordable, secure and reliable electricity. Australian households and businesses deserve no less.\u201d
\nThe ACCC\u2019s latest report into the NEM is available at\u00a0https:\/\/www.accc.gov.au\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Household electricity prices across the National Electricity Market (NEM) have fallen to eight-year lows under the Morrison Government, driven by key government reforms, including the default market offer price cap. The Australian Competition and Consumer Commission\u2019s (ACCC) latest report from its ongoing inquiry into the NEM confirms electricity prices have fallen substantially for both households … Continue reading “ACCC confirms electricity prices have continued to fall under Morrison Government”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-14258","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/14258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=14258"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/14258\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=14258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=14258"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=14258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}