Ausgrid proposes 6pc cut in NSW electricity network tariffs

NSW’s largest electricity distributor Ausgrid has gone public on its proposal to cut network tariffs by 6 per cent next year, increasing pressure on retailers to make the power price cuts called for by the federal government elsewhere in the supply chain.

Amid heightened criticism of retail energy price hikes from the competition regulator and federal Energy Minister Josh Frydenberg, Ausgrid chief executive Richard Gross said his company was taking action to help provide affordable prices.

“We’re 33 per cent of the overall bill and we’re reducing our bit,” Mr Gross said on Sunday. The price cut proposed to kick in July 1 next year would represent a $30- a-year reduction on an average customer’s bill, he added.

Published in Financial Review, 6th May, 2018