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The Tasmanian Economic Regulator has approved a 7.11 per cent decrease in Aurora Energy’s residential electricity price valid from 1 July 2021 to 30 June 2022.

This means Tasmanians will experience some of the lowest energy prices in Australia, with the decrease to deliver annual bill savings of up to $145 for the average household, depending on their tariff.

The Regulator also determines the minimum feed-in tariff rate for 2021-22 is 6.501c/kWh.

Tasmanian small businesses will also benefit from a decrease of eleven per cent on the regulated electricity prices for the same 12 month period, amounting to approximately $183 of savings per annual bill. 

In total, this represents savings of at least $30 million for Tasmania’s 243,000 households and about $5.3 million in savings for 29,000 small businesses.

The Tasmanian Government said it is on track with the Tasmania-First Energy Policy, which aims to deliver the lowest regulated electricity prices in the nation by 2022.

To reach this goal, the State Government said decisive action with long term benefits has been taken, by capping regulated electricity prices at no more than CPI for four years starting from 2017-18 commencing a review of the wholesale pricing mechanism to de-link from Victorian prices.

Electricity prices have decreased by 18.04 per cent for residential customers and decreased by 27.18 per cent for small business customers. 

The Tasmanian Government also recently provided a $125 winter supplement for eligible electricity concession holders, reducing energy bills for around 90,000 Tasmanians at a cost of up to $12 million.

Eligibility for the $125 winter supplement has also been adjusted to cover customers in embedded networks, like aged care facilities, caravan parks and some retirement villages where customers do not have a direct relationship with a power retailer.

These customers will receive a one-off $125 COVID Cost of Living Grant.

The Grant Program will be organised by the Department of State Growth with advertising in the coming weeks to ensure Tasmanians understand their eligibility and how to receive the grant.

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