People living in apartment blocks, retirement villages and caravan parks are among the 150,000 energy customers set to benefit from tough new rules to lower energy bills and increase consumer protections for people living in embedded networks.
The NSW Liberal and Nationals Government today announced its Embedded Network Action Plan to cut energy bills, which includes:
- Introducing a maximum, IPART determined price for gas and for hot and chilled water supplied through embedded networks
- Initiating an IPART review into electricity prices in embedded networks, to recommend whether the maximum price within embedded networks should be set below the Commonwealth's default market offer
- Initiating an IPART review on whether the NSW Government should ban the establishment of new hot and chilled water embedded networks.
The NSW Government will also write to the Australian Energy Regulator requesting that it only approve new electricity and gas embedded networks that are in the interests of consumers, and offering to initiate changes to the National Electricity and Gas Rules if necessary in order to achieve that outcome.
Treasurer and Minister for Energy Matt Kean said that embedded networks have failed to deliver for many energy consumers, adding complexity and holding back customers from getting the best deals the market has to offer.
"Whether you're living in a free-standing home, or in an apartment block, caravan park or retirement village, every family should be able to access essential services at a fair price," Mr Kean said.
"These reforms will help ensure that embedded network customers are no longer disadvantaged simply because of where they choose to live."
Embedded networks are private energy networks which on-sell energy from retailers to households and small businesses in multiple premises like apartment blocks, retirement villages, caravan parks and shopping centres.
