❓ Question regarding the price increase of Synergy's NaturalPower product and the government's involvement. The Minister clarifies the pricing mechanism and rationale behind the increase, stating it's a non-regulated product.
AnsweredQoN 763Legislative Council
Asked
23 August 2016
Member
Portfolio
Leader of the House representing the Minister for Energy
QuestionView source ↗
SYNERGY — NATURALPOWER
763. Hon AMBER-JADE SANDERSON to the
Leader of the House representing the Minister for Energy:
I refer to the decision by the
government to increase the price of Synergy's NaturalPower product from
2.470c to 7.429c a kilowatt hour.
(1) On what date
did the minister, his office, the Public Utilities Office or Synergy first
discuss the intention to increase the price of NaturalPower?
(2) On what date did the board or
management approve the increase in the price of NaturalPower?
(3) Why was the
government's decision to increase NaturalPower's price not
included in the 2016 budget papers?
(4) Why were
electricity consumers given only a few days' advice of the increase in
NaturalPower's price?
763. Hon AMBER-JADE SANDERSON to the
Leader of the House representing the Minister for Energy:
I refer to the decision by the
government to increase the price of Synergy's NaturalPower product from
2.470c to 7.429c a kilowatt hour.
(1) On what date
did the minister, his office, the Public Utilities Office or Synergy first
discuss the intention to increase the price of NaturalPower?
(2) On what date did the board or
management approve the increase in the price of NaturalPower?
(3) Why was the
government's decision to increase NaturalPower's price not
included in the 2016 budget papers?
(4) Why were
electricity consumers given only a few days' advice of the increase in
NaturalPower's price?
AnswerView source ↗
I thank the honourable member for
some notice of the question.
The rate was increased from 5.018c
per kilowatt hour to 7.429c per kilowatt hour due to the increased price of
renewable energy credits that underpin the product.
(1) There was no
involvement in the pricing of Synergy's NaturalPower product. NaturalPower
is a voluntary non-regulated offering from Synergy, which is priced at a premium
on top of the regulated retail residential prices. This premium ranges from 25 per
cent to 100 per cent, depending on the choice of the customer amongst options
available under the NaturalPower product. The additional revenue is used to
purchase renewable energy certificates from nationally accredited GreenPower
renewable energy sources.
(2) In April 2016.
(3) NaturalPower
is a voluntary non-regulated product offering and is not included in the retail
electricity prices that government reviews annually.
(4) Synergy
notified all customers of the pricing change on their next applicable bill,
consistent with regulatory requirements.
some notice of the question.
The rate was increased from 5.018c
per kilowatt hour to 7.429c per kilowatt hour due to the increased price of
renewable energy credits that underpin the product.
(1) There was no
involvement in the pricing of Synergy's NaturalPower product. NaturalPower
is a voluntary non-regulated offering from Synergy, which is priced at a premium
on top of the regulated retail residential prices. This premium ranges from 25 per
cent to 100 per cent, depending on the choice of the customer amongst options
available under the NaturalPower product. The additional revenue is used to
purchase renewable energy certificates from nationally accredited GreenPower
renewable energy sources.
(2) In April 2016.
(3) NaturalPower
is a voluntary non-regulated product offering and is not included in the retail
electricity prices that government reviews annually.
(4) Synergy
notified all customers of the pricing change on their next applicable bill,
consistent with regulatory requirements.
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