A new report released by the Australian Energy Regulator (AER) has found that Australian electricity networks are improving their productivity at the fastest rate in more than a decade, resulting in lower electricity bills for customers.
The AER annual benchmarking report tracks the performance of electricity networks and this data informs the amount networks charge their customers.
Energy Networks Australia CEO, Andrew Dillon, said the report was an indicator that the hard work by energy networks is paying off.
“We understand that customers are unhappy with increases to their energy bills. Today’s report explains why the network component of household electricity bills has actually been decreasing in recent years,” Mr Dillon said.
“This is the case for all six National Electricity Market (NEM) states and territory covered by the AER report, which shows total network costs are falling.
“Networks have been contributing a smaller and smaller proportion of the total cost consumers pay over the past two years and the AER’s report forecasts revenues to continue to fall by 13.5 per cent.”
Mr Dillon said it was important that lower network charges are passed directly on to customers.
“Making energy more affordable is a key priority for energy network businesses.
“Today’s report is good news for customers. We are working hard on their behalf and continue to deliver results – the best in 11 years – which is incentive based regulation delivering the benefits it should.”