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New electricity company good news for Australian Capital Territory residents

By Ben Faulks

Owning property can be an expensive undertaking for many people. After all, when you think about all the different expenses you need to pay and maintain just to keep your Belconnen real estate in tip top condition, you'd be forgiven for starting to think outside the box in order to save some moolah. 

Luckily, the Australian Capital Territory is preparing to introduce a new player into the state's electricity market, which could result in reduced energy prices across the region. Minister for the Environment Simon Corbell said increasing competition would do wonders for driving down prices for consumers across the market. 

"There are some exciting new products and services that will emerge for electricity users in the coming years such as smart metering, solar/battery storage and new tariff structures that can make the market work more efficiently and reduce costs to the community," said Mr Corbell in a 23 September statement. 

The state already has some of the lowest energy prices, with Mr Corbell stating homeowners in the Australian Capital Territory are already paying almost $1,000 less for electricity per year compared to those living in the neighbouring state of New South Wales. 

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