From 1 October 2021, the Independent Competition and Regulatory Commission (ICRC) introduced new reforms to make it easier for ACT customers to compare and identify the best electricity offers in market for their needs as simply and easily as possible.
We’ve outlined these changes below but it’s worth noting that there could be more to come. We’ll keep you updated as new changes come about.
From 1 October 2021, energy companies are required to make a reference price comparison for ACT residential, small business and embedded network customers on a certain rate type. The reference price is set annually by the ACT Government.
Here are the rate types currently compared to the reference price:
|Residential electricity customers||Flat with or without controlled load rates
Time of use rates with or without controlled load
|Business electricity customers (uses less than 100 MWh per year)||Flat rate|
|Embedded network customers||If an embedded network is operated by an energy retailer, a reference price applies to residential or business customers on the rate types noted above.|
The ACT Government introduced a reference price to make it easier for electricity customers to compare energy plans between different retailers.
It’s intended as a safety net for customers who don’t have the time or access to compare market offers provided by electricity retailers. It also ensures that customers who can’t or don’t want to engage with their energy retailer will pay lower energy costs.
The reference price is set annually by the ACT Government. This reference price is used to compare an energy retailer’s advertised offer.
The reference price will make it easier for consumers to make ‘apples with apples’ comparisons between different energy retailer offers for electricity where discounts are included.
|Usage Price||Usage Price|
|Flat Tariff||6,100 $2,090||20,000 $7,520|
|Flat Tariff with controlled load 1||6,300 $2,629|
|Flat Tariff with controlled load 2||6,300 $2,629|
|Time of Use||6,100 $2,090|
Usage is kWh per year and all prices include GST.
For example, here’s a Flat Tariff electricity offer in the ACT:
Estimated annual electricity cost for an average household in the Evoenergy area (that is, all of ACT), based on a residential flat rate.
|EnergyAustralia’s plan offer||$1,839|
|Reference price (annual cost)||$2,090|
This means EnergyAustralia’s Flat Tariff offer is 12% less than the reference price for annual electricity usage for an average household in the ACT.
Electricity plans are now easy to compare – just look at the percentage difference from the reference price. The bigger the discount off the reference price, the better the deal for you.
Your energy distributor is the company responsible for the poles, wires and gas pipes in your area.
Evoenergy is the only energy distributor that operates in the ACT.
It’s a tariff where you’re charged the same rate for electricity throughout the day and night. There is no distinction made between peak and off-peak periods like time of use tariffs.
A flat rate tariff is usually lower than peak but higher than off peak and shoulder rates.
With time of use tariffs, different usage rates are charged for the electricity you use at different times: off peak, shoulder and peak. These times may differ between states, but here’s an example you would find in the ACT.
- Off peak – charged when the electricity network has low usage, such as overnight - 10.00pm to 7.00 am, 7 days.
- Shoulder – a usage rate that sits between peak and controlled load times. Shoulder rates are usually a bit cheaper than peak rates - 9.00am to 5.00pm and 8.00pm to 10.00pm, 7 days.
- Peak – usually charged when the electricity network has high usage – 7.00am to 9.00am, 7 days.
Controlled load electricity refers to electricity being used by a stand-alone item, like an electric hot water service, electric slab heating and irrigation pumps. Controlled loads are recorded by a separate meter and can be billed as an off-peak rate.
This is a type of electricity infrastructure generally managed by the building owner. A person living in an apartment complex, retirement home, caravan park or tenant in a shopping centre may be receiving their electricity via an embedded network.
The reference price only applies to embedded networks that are operated by an energy retailer. Currently EnergyAustralia doesn’t operate any embedded networks in the ACT.
No, the reference price doesn’t apply to gas.
We have a range to suit everyone, whether you’re looking for great rates, flexibility or price certainty.
Did you know?
If you haven’t registered for My Account it only takes a couple of minutes to set up. All you’ll need is your account number to get started. Then you can easily manage your energy accounts - update your details and energy plans, view and pay your bills, and more.
If you’re not sure what plan you’re on now, go to ‘Your electricity usage and service calculation’ section on page 3 of your home or business bill.
Better offer message
From 1 October 2021, all ACT electricity bills will include a message inviting customers to check if they could change to a better plan.