Submission: ICRC Draft Report for Electricity Prices Investigation 2024-27
1 May 2024
The ICRC Electricity Prices Investigation 2024-27 draft report and proposed price direction was released in February 2024. The regulated standing offer price is expected to increase by 17% (with low confidence in the calculated estimate), mostly due to price volatility caused by the ACT Large Scale Feed-in Tariff (LFiT) scheme. ACTCOSS provided a submission highlighting our concerns and interrogating the cost stack. Overall, ACTCOSS recommends that the cost stack used to determine the standing offer price should provide a safety net for ACT electricity consumers rather than for retailer profits.