More renewable energy flowing into the system is helping place downward pressure on electricity prices, with the Default Market Offer in NSW set to fall from July.<\/p>\n\n\n\n
The Australian Energy Regulator (AER) has determined the cap on default electricity prices for NSW households will drop by between 3.4 and 7.7 per cent from July, reflecting lower wholesale electricity costs as more renewable generation and storage enters the market.<\/p>\n\n\n\n
The determination comes as the Minns Labor Government has accelerated the renewable energy rollout with utility scale wind and solar capacity increasing by 80 per cent in the last three years and today\u2019s determination from the AER shows the Government\u2019s rollout is beginning to place downward pressure on energy costs.<\/p>\n\n\n\n
According to the AER, the 7 per cent of households on the default plan will see between $66 and $211 off annual bills, as more renewable energy flows into the grid and lowers underlying wholesale electricity prices.<\/p>\n\n\n\n
The 14 per cent of small businesses on the default electricity offer can expect savings of between $432 and $1,303 a year.<\/p>\n\n\n\n
Lower wholesale prices help put downward pressure on retail prices across the market.<\/p>\n\n\n\n
We recognise that power bills are still high, and families and businesses continue to face cost-of-living pressures.<\/p>\n\n\n\n
But this is a welcome sign that NSW households and businesses will soon see the benefits of more renewable energy and storage in the system.<\/p>\n\n\n\n
The job is not done but the direction is clear. Reversing course now would cost tens of billions of dollars more and only make power bills worse.<\/p>\n\n\n\n
The Liberals and Nationals need to be honest about whether they support the renewable energy and storage NSW needs to replace ageing coal-fired power stations, or whether they would put that investment at risk.<\/p>\n\n\n\n
Blocking renewable energy and storage means higher bills, less reliability and more exposure to ageing coal-fired power stations.<\/p>\n\n\n\n
The Minns Labor Government will continue to support the effective and consistent implementation of the NSW Benefit-Sharing Guideline, ensuring councils and communities hosting projects receive associated benefits.<\/p>\n\n\n\n
More than $180 million in benefits have been committed to communities since the guideline\u2019s introduction in November 2024. This is in addition to the Renewable Energy Zone community and employment benefit funds coordinated by EnergyCo.<\/p>\n\n\n\n
Households and businesses can check they\u2019re on the best deal available to them, on the independent Energy Made Easy website: www.energymadeeasy.gov.au<\/a>.<\/p>\n\n\n\n Premier Chris Minns said:<\/strong><\/p>\n\n\n\n \u201cWe know families and small businesses are doing it tough, so any relief on power bills is welcome news.<\/p>\n\n\n\n \u201cThis is the first encouraging sign in a long time that electricity prices are starting to head in the right direction.<\/p>\n\n\n\n \u201cAfter years of rising prices and pressure on households, people want to know there is a plan to keep the lights on and help bring costs down over time.<\/p>\n\n\n\n \u201cWe can\u2019t afford to go backwards now. Walking away from more renewables would only drive prices higher and put more pressure on families and businesses.\u201d<\/p>\n\n\n\n Minister for Energy Penny Sharpe said:<\/strong><\/p>\n\n\n\n \u201cMore renewable energy coming online is starting to drive down wholesale prices, and that\u2019s flowing through to lower bills for households and small businesses.<\/p>\n\n\n\n \u201cThe Liberals and Nationals need to declare where they stand. Blocking renewable energy and storage means higher bills, less reliability and more exposure to ageing coal-fired power stations.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" More renewable energy flowing into the system is helping place downward pressure on electricity prices, with the Default Market Offer in NSW set to fall from July. The Australian Energy Regulator (AER) has determined the cap on default electricity prices for NSW households will drop by between 3.4 and 7.7 per cent from July, reflecting … Continue reading “Lower default power bills for NSW as renewable plan delivers”<\/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":[4],"tags":[],"class_list":["post-39133","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39133","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=39133"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39133\/revisions"}],"predecessor-version":[{"id":39134,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/39133\/revisions\/39134"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=39133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=39133"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=39133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}