The Australian Energy Regulator (AER) has released its final decision on the Evoenergy electricity distribution network determination for 2019–24.
This decision means that by 30 June 2024, the average network charge for annual residential electricity bill in five years’ time will be $64 higher than it is now (including inflation), around $13 per annum. This AER decision determines about 27% of the customer bill in the ACT, and covers only the charges passed on from the distribution network.
The AER regulates the amount that network businesses can charge to carry electricity through the poles and wires network to homes and businesses.
Other components of customer bills include jurisdictional charges (government green schemes etc), transmission, retail and wholesale energy costs. Retail costs for regulated tariffs will not be determined until the Independent Competition and Regulatory Commission (ICRC) hands down its pricing decision in early June.
Evoenergy believes the decision will allow it to continue to maintain a safe and reliable network, while supporting the Canberra community through expected population growth.
Among considerations taken into account by the AER in the determination include:
Evoenergy worked closely with the AER throughout the review process to ensure the determination accurately reflected requirements to continue to run a safe, reliable and affordable network. The AER noted Evoenergy had improved its regulatory engagement process with its customers.