NSW: Regulator approves electricity price hike for NSW residents

AAP General News (Australia)
04-30-2004
NSW: Regulator approves electricity price hike for NSW residents

SYDNEY, April 30 AAP - NSW residents will be forced to pay about $50 a year more for
electricity prices after the pricing watchdog today allowed an increase in charges.

The Independent Pricing and Regulatory Tribunal (IPART) today issued a draft ruling
on retail electricity prices for small customers of the four NSW energy utilities.

The ruling covers customers who use less than about $16,000 worth of electricity per
year, and have not entered a negotiated contract.

Typical residential customers in Sydney and regional NSW would be hit with an increase
of about $1 a week, or $52 a year due to today's ruling.

IPART acting chairman James Cox said the average electricity prices for small customers
in NSW are among the lowest in Australia.

"This draft determination will protect customers from significant price shocks, while
moving prices to more accurately reflect costs over the three years of the determination,"

Mr Cox said.

The rises reflect increases recommended in IPART's review of the distribution network
prices, he said.

The new determination will apply from June 1 until June 30, 2007.

IPART invites submission on the draft determination to be received by May 14, 2004
and will release its final decision on the ruling in June 2004.

AAP smb/drp/de

KEYWORD: ELECTRICITY

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