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ACT Forecast to Have Australia’s Lowest Electricity Prices

By Ben Faulks

An increasing number of people may be attracted to Gungahlin real estate as it emerges that the ACT is likely to continue having the lowest electricity prices in the country for some time to come.

This has been made possible for lower demand for electricity in wholesale markets, which in turn has meant that cost pressures have declined.

Improved energy efficiency and greater usage of rooftop solar have both contributed to this trend.

Minister for the environment and sustainable development Simon Corbell explained: "According to a report released by the Australian Energy Market Commission, ACT household electricity prices are currently the lowest in Australia and in 2015 will still be two-thirds of the average national price as well as the average electricity price paid in New South Wales."

In July last year, the ACT became one of the first Australian jurisdictions to put the National Energy Customer Framework into place, which is designed to reduce costs for the electricity industry.

It is believed that these reductions will filter through to consumers, helping them to lower their household outgoings.

Further reforms are being considered to help ACT residents become more energy efficient and therefore pay less for their electricity.

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