Power bills down as regulator unwinds NSW networks' gold plated gains

NSW residential and small business power consumers expected to see 10% drop in bills as regulator unwinds the huge blow-out in power network revenues of prior five years.

The Australian Energy Regulator has elected to slash the NSW power network companies proposed capital and operating expenditure for 2014-19 period, with residential and small business consumers expected to see reductions of 10% in their power bills.

AER chairman Paula Conboy said: “We estimate that our draft decisions, if implemented, would reduce annual electricity bills for a typical residential household living in NSW, on average, by $219 (10 per cent) in 2015–16.

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