The AER does not set retail energy prices, but it provides a price comparison website, Energy Made Easy, to help customers find the best energy offers for their needs.
It pays to shop around, as little as the offers may be.
Currently AGL in QLD has been publicly advertising Solar FiT of 12c/kWh. Other retailers offer premiums for export based on instantaneous network demand and time of day. Free enterprise and competition principles.
Note the ‘Final Determination’ superseded the ‘Draft’ version during the week.
AER releases final determination for 2023–24 Default Market Offer | Australian Energy Regulator (AER).
There’s no complexity in what is happening here. Residential consumers represent a soft target for the large enterprises holding a significant portion of our national electricity assets. Those enterprises rely on Capital growth to maximise earnings, the underlying value of the asset and profits. Increased distributed generation (Rooftop solar PV) and independence (residential and community battery take up) by residential customers challenges the current business model and security of those with large investments.
Residential customers may only consume 25% (approx) of electricity generated, but we are the cream when it comes to adding value for the investors.
P.S.
I could not find an explanation of what is a fair feed in tariff in the AER determination. Although as the AER advises, it does not set retail prices. The existing grid has managed the current level of Solar PV penetration without significant augmentation. The future is a more complex discussion.
