Following the NSW Independent Pricing and Regulatory Tribunal’s (IPART) decision to reduce regulated gas prices for Sydney households by 12%, the Public Interest Advocacy Centre (PIAC) has called on gas retailers to pass these savings on to all NSW households in full.
This week, IPART released updated regulated retail gas prices and charges that will come into effect on 1 July 2015. As a result, the average household paying the regulated price for gas will see their bill drop by $118 next year but there is no guarantee that consumers on the unregulated price will receive these savings.
IPART’s decision follows a sharp decline in network prices. Jemena, which operate the gas distribution network in Sydney, has cut its charges to make using gas more attractive to consumers at a time of rising wholesale prices.
‘This is a significant price cut, which has the potential to bring relief to people struggling to afford essential energy services,’ said Edward Santow, PIAC’s CEO.
‘But only 21% of gas customers are on the regulated price. Retailers are not obliged to pass on this price cut in full to customers on the unregulated price,’ said Mr Santow.
‘We encourage all gas customers to look at available gas offers to ensure they are getting the best deal, once the price cut comes into effect on 1 July.
‘Navigating the retail energy market can be very difficult, but customers can save hundreds of dollars by switching from a poor offer to a better one,’ Mr Santow said.
‘The best way to ensure you see this cut in gas prices is to contact your retailer or to look at going to another company. Otherwise there is a danger people will miss out on this price cut.
‘Gas retailers should do the right thing and pass on the IPART determined savings in full,’ Mr Santow said.
PIAC encourages anyone looking for a new gas or electricity contract to use the free, independent price comparator service, Energy Made Easy. Visit www.energymadeasy.gov.au or call 1300 585 165.
MEDIA CONTACTS: PIAC Media and Communications Officer, Gemma Pearce: 0478 739 280.