The Australian Energy Regulator (AER) has approved Power and Water Corporation’s (PWC) 2021-22 electricity pricing proposal in accordance with its 2019–24 distribution determination.
This is the third year of the 2019–2024 determination for PWC. The determination sets revenues to recover the cost of delivering electricity supply to customers over five years. Each year PWC submits to the AER for approval a pricing proposal that contains the network tariffs it proposes to charge its customers to recover its revenues.
In 2021-22, the network tariff component of the typical annual bill for PWC customers is $104 lower for households and $164 lower for small business, compared to the previous year. This will come into effect from 1 July 2021.
The network tariff decreases are driven by over-recovered revenues in previous years being passed back to Northern Territory (NT) customers.
More information can be found on PWC’s pricing proposal, our role in reviewing the proposal, and our decision to approve in our Statement of Reasons.
Electricity bills are made up of a number of components including the wholesale cost, retail margins, and network charges. This decision relates to the network tariff component of the bill only. What customers ultimately pay will be informed by all bill components.
It is important to note the NT Government sets retail prices for residential and small business customers.
The AER acknowledges that energy bills are a concern to many households and businesses. We encourage consumers to shop around to find the best deal to suit their energy needs.