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This was published 8 years ago
Electricity costs predicted to stay flat in Victoria until 2018
Electricity prices are expected to be stable in Victoria for the next three years in what could be some much-needed good news for consumers.
The annual report into electricity price trends by the Australian Energy Market Commission shows no change expected in Victoria over the next three years. Price increases of between 0.2 and 6.2 per cent are expected in the other states and territories.
The three-year estimate is an annual average over the period, so it does not mean that prices will remain exactly the same from year to year. Rather, it means that price rises and falls will likely even out over the period, leaving no net change.
AEMC chairman John Pierce said higher wholesale prices for electricity would be offset by lower network-related charges: the result of competition, which an AEMC spokesperson said was healthier in Victoria than in other jurisdictions.
"No two households use energy in the same way," Mr Pierce said. "Knowing how much power you use and when, will be the key tool in controlling electricity costs in the future."
"Right now, switching to a better energy deal remains the most effective way for consumers to save money."