The Australian Energy Regulator (AER) has released its substitute determinations for the 2016–2020 regulatory control period. These replace the preliminary determinations released in October 2015.
The final revenue allowance provides us with the certainty to make investments in a number of key areas including new connections, bushfire mitigation, safety initiatives as well as information technology. It will also enable us to further capitalise on investments we have made already that will future proof the network and deliver improved service offering to all customers. Importantly this is all being achieved whilst keeping average energy bill increases below CPI.
For our customers, the substitute determinations will see a $12 saving in the average CitiPower residential customer retail bill in 2017 and $1 saving in 2018. For Powercor the equivalent numbers are $25 saving for 2017 and $3 saving for 2018. This follows savings of $45 for CitiPower customers in 2016 and $48 for Powercor customers in 2016.