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The Independent Tasmanian Economic Regulator has today announced that prices will increase for both Aurora Energy residential and small business customers for 2022-23.
The increase of 11.88 per cent has been primarily driven by high wholesale energy costs, with a range of recent national and global events placing significant upwards pressure on the wholesale energy market. These increases will not be unique to Tasmania, and energy customers around the country will likely face similar.
Last year Tasmanian standing offer power prices decreased by 7.11 per cent for residential and 11 per cent for small business customers, meaning prices have been among the cheapest in the country.
Aurora’s retail costs account for just 12 per cent of total electricity prices. More than 70 per cent of a customer’s final bill is made up of wholesale energy (generation) and network (transmission) costs. As part of the Regulator’s recent Price Determination, Aurora Energy’s allowances it can recover will decrease in real terms over the next three years.
Aurora Energy Chief Operating Officer, Kane Ingham, acknowledged the difficulty already being felt by Tasmanians, and wanted to reassure customers they are here to help.
“We know today’s news is going to make it very tough on some individuals and families who are already struggling to make ends meet,” Mr Ingham said.
“But as Tasmania’s 100 per cent owned and operated energy retailer, we genuinely care about our customers – we’re customers too – and we’re committed to doing what we can to help during this challenging period because it’s our community and we’re invested in it.
“Supporting each other is an integral part of what it is to be Tasmanian and it's why we are so proud to be a part of the Tasmanian community.
“We encourage any customer who may be struggling to keep on top of their energy bill and are in need of support to get in contact; we have the support, services and strategies available to drive customer’s energy bills down.”
The Regulator also announced the Feed-in Tariff rate for customers with solar installations will be increased to 8.883c/kWh due to the increase in the wholesale electricity price for 2022-23.
Any customers that need an extra hand are encouraged to contact Aurora’s YES Team (Monday to Friday from 9am-4.30pm) on 1300 10 2010 or visit auroraenergy.com.au
Aurora Energy’s three point plan for high energy bills:
Extended payment options, relief via Aurora Energy’s nation-leading YES (financial hardship) program, including an extension of the incentive program, and an enhanced Customer Support Fund to support anyone experiencing financial vulnerability;
The Tasmanian Government has announced an increased rate for concessions customers, as well as a $119 Energy Bill Supplement, to be provided from 1 August 2022.
aurora+ available with no product service fee from 1 July 2022, enabling more customers to gain greater control over their energy usage and ultimately reduce their electricity costs;
More energy efficiency tips across digital platforms, advertising channels and through Aurora Energy’s community networks as low energy efficiency in Tasmanian homes remains a big driver of high bills, especially in winter.