Queensland households and businesses are set for a further reduction in electricity costs following lodgement of our 2023-27 Revenue Proposal to the Australian Energy Regulator (AER).
We have proposed an 11% reduction in the indicative transmission price for residential and small business customers in the first year of our next five year regulatory period, commencing 1 July 2022.
Our 2023-27 Revenue Proposal plans to deliver lower transmission network costs while still maintaining a safe and reliable supply of electricity for almost five million Queenslanders.
With transmission costs comprising 9% of the electricity bill for the typical Queensland household, this represents a saving in that first year of around $13 and $23 for residential and small business customers, respectively.
Powerlink Chief Executive Paul Simshauser said the Revenue Proposal had been developed in close collaboration with customers.
“From day one we were focused on a Revenue Proposal process that sought input and feedback from our customers and stakeholders at every opportunity,” Mr Simshauser said.
“This approach ensured that their insights were not only heard, but directly influenced our decision-making, which has resulted in a Revenue Proposal that will see a reduction in prices, capital expenditure and our Regulated Asset Base.
“We are also setting a target of no real growth in operating expenditure and a productivity target higher than the industry average – all of which directly benefits our customers.
“Our overarching goal was to deliver a Revenue Proposal that was capable of acceptance by our customers, the AER and ourselves at the time it was lodged.
“This proposal is in the best interests of our customers and ensures we will continue to drive our business hard to find efficiencies on the way to becoming a world-class transmission network service provider.”
Find out more: www.powerlink.com.au/2023-27-regulatory-period