Approximately 100,000 residents across apartment buildings, caravan parks and retirement villages have no choice but to use the embedded electricity network installed by the developer.
This means they cannot ‘shop around’ for the best price. The VIC energy regulator is stepping in to set a ‘fair’ price that is no more than the Victorian Default Offer. Their view is that it will save between $180 and $370 a year.
The state’s energy regulator is proposing to cap the amount embedded network customers can be charged at no more than the Victorian Default Offer, commencing in September.
Essential Services Commission pricing director Marcus Crudden said residents could save $180 to $370 annually, depending on their location.
