NT customers to pay more for power but nothing like the east coast

Territorians will pay more for power but are being spared the massive power price hikes the east coast’s about to cop. Find out why.

Power prices across the NT will rise by 2.7 per cent from July 1 – up to 10 times less than some east coast electricity markets and more than half the inflation rate.

The increase is identical to the 2022-23 rise and coincides with a national increase in power prices from the start of the new financial year, with across-the-board increases nationally.

But consumers in NT and WA will miss out on the huge surges that are set to hit householders and business in the eastern and southern states.

Western Australians will only pay an extra 2.5 per cent

Chief Minister Natasha Fyles said government ownership of the NT and WA power corporations meant prices could be kept down.

Power and Water crews help retain the electricity system.

Taxpayers help subsidise cheaper power for all through the allocation of money under the government’s community service obligations.

In this year’s budget, the government committed $71m over two years to $161.3m, topping up the community service obligation payments to the Power and Water Corporation and electricity retailers, including Jacana Energy.

Figures released by the NT government shows power prices in Queensland could climb 28.7, Victoria 27.2 per cent, New South Wales 24.9 per cent and South Australia 22.5 per cent.

“No one’s pretending that electricity is cheap up here, the fact is we have to use a lot of it and that costs money, but we’ve done everything we can to keep increases as low as possible and way below inflation,” Ms Fyles said.

Power price hikes ahead, but could be much worse.

“Territorians remember what a 30 per cent increase in power prices was like under the last government, it sends people to the brink.

“The only reason we can keep power prices under control is because we own our electricity assets. If they had been sold, Territorians would be in the same situation as the east coast right now.

“It’s a choice, and we choose to put Territorians first by keeping power price increases among the lowest in the country, and keeping our public assets in public hands.

“Our government will never ever sell our electricity assets. They belong in public hands, always.”

As at June 2021 PowerWater was a government-owned corporation with liabilities approaching $2.6bn and is unsellable as an entire corporation.

In addition to the CSO, about 55,000 householders will receive an additional $350 off their power bill and $650 for small businesses, through the jointly funded NT and commonwealth government’s Energy Bill Relief Fund.