WA electricity prices could rise 15 per cent within two years, according to Energy Minister Ben Wyatt.

WA Energy Minister Ben Wyatt has indicated household electricity prices could have to rise by up to 15 per cent within two years as part of moves to allow people to choose where they buy their power from.

Mr Wyatt, who is also Treasurer, said the retail war in the natural gas market, where Wesfarmers-owned Kleenheat ended Alinta’s monopoly in 2013, was clear evidence of the benefits of competition and he wanted them replicated in the electricity sector. But to achieve “full retail contestability”, he conceded the gap between the cost to Synergy of providing electricity and what it was able to charge would have to be bridged. And Mr Wyatt acknowledged the gap between prices and “cost-reflective” tariffs was now about 15 per cent.

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Source: www.perthnow.com.au

Read the full story here: Perth Now


^Energy reduction based on Australian Government Approved TRNSYS simulation modelling and apply when replacing an electric water heater with a Rheem solar water heater.