Ergon plans to cut Queensland power prices by 10%
SOME relief could be on the way for regional Queenslanders sick of rising power prices, as Ergon Energy plans to keep network charges to below inflation for the next five years.
The charges were proposed to the Australian Energy Regulator, and could see a decision by the Queensland Competition Authority on retail prices turn in consumers' favour.
Ergon proposed cuts of about 10% to the network charges it puts on energy retailers, and the QCA is expected to decide next year the price consumers would pay.
The proposal before the AER could see network charges restricted to increases below inflation, and could even see a drop in the charges levied on retailers, but the AER will make its decision on the charges for the next five years in 2015.
Estimates in the Ergon proposal show falls could amount to 10% over the next two years in network charges, but it will be up to the QCA to decide final retail price settings.
A story published in several APN papers yesterday incorrectly stated it could be a 10% increase in retail prices, rather than the actual potential fall in network charges.
APN apologises for any inconvenience the error may have caused.