Tuesday night's budget contained grim new forecasts – retail energy prices would increase by an average of 20% nationally in late 2022, and by a further 30% in 2023-24.
Will regulated electricity prices apply in regional Queensland in 2022-23?
- We have received a delegation from the Minister for Energy, Renewables and Hydrogen (the Minister) to set regulated retail electricity prices (notified prices) to apply in regional Queensland in 2022–23. The delegation was issued in accordance with section 90AA of the Electricity Act 1994 (Qld) (Electricity Act). 1.2Scope of this review
What is the retail margin per MWh for 2022-23?
- This generated a retail margin of $14.74 per MWh for 2022-23. 25 ICRC | PRICE RECALIBRATION: Retail electricity price recalibration 2022–23: standing offer prices for the supply of electricity to small customers References
What are the estimated renewable power prices for 2022 and 2023?
- The estimated renewable power percentages for both 2022 and 2023 is 18.64%. The LGC price for 2022 is $38.77 per certificate, which is the 11-month average price to 31 May 2021. This increases to $39.16 per certificate when holding costs are applied.
How much does electricity cost in the Act?
- Details on the ACT Retail Electricity (Transparency and Comparability) Code are at www.icrc.act.gov.au/energy/act-retail-electricity-transparency-and-comparability-code. $1,807 $1,864 $1,892 $2,442 $2,625 ACT VIC QLD SA NSW 11 5 Annual price recalibration process
Tuesday's budget forecast electricity prices in Australia would rise by an average of 20 per cent this financial year, with a further 30 per cent rise next financial year. Gas prices were expected to increase by up to 20 per cent in both 2022–23 and 2023–24.