The Victorian Government has introduced new pricing reforms that will bring down energy prices for Victorians living in embedded networks, such as apartment buildings, caravan parks and retirement villages.
From 1 September 2020, the maximum price which embedded network customers can be charged for their electricity will be set to the Victorian Default Offer – which the Victorian Government set as a fair price across the state.
With this new pricing cap, residents of apartment buildings, rooming houses, caravan parks and retirement villages could save between $180 and $370 a year on energy bills, while small businesses in shopping centres could save between $900 and $2,200.
Victorian Minister for Energy, Environment and Climate Change, Lily D’Ambrosio, said, “We’re making sure that all Victorians have access to fair energy prices, whether you live in an apartment building or retirement village, or run a business in a shopping centre.
“These customers will now have access to the same cheaper deal, and have the same protections as Victorians who live in a house and can choose their energy provider.”
More than 120,000 residential and small business customers live or work in embedded networks across Victoria.
The announcement follows a decision by the Essential Services Commission to set the Victorian Default Offer as the maximum price for these customers.
This is part of the suite of government reforms through the Energy Fairness Plan to make energy more affordable for all Victorians.
New measures introduced by the State Government include the Payment Difficulty Framework, which has nation-leading protections to keep vulnerable people connected.
Victorians are also able to access cheap and clean renewable energy through the landmark $1.3 billion Solar Homes program, supporting 770,000 households to get solar PV, solar hot water and batteries at no upfront cost while creating 5,000 jobs.
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