Having considered the proposal, Energy Consumers Australia (ECA) accepts the proposal is in the long-term interest of consumers, as it will mean consumers do not pay any more than is necessary for the energy network services they require from Endeavour during 2014-2019. People expect energy to be supplied at a cost that allows them to have comfortable homes and for their businesses to be competitive. From where we find ourselves today, achieving that outcome will require sustained effort from electricity networks, retailers and producers. There will need to be continued commitment by Endeavour to further real reductions in the prices for network services.
Endeavour is proposing to retain $110 million in additional revenue above the AER’s original 2015 determination. In our view, the proposed increase in allowed revenue represents a reasonable decision, in the long-term interests of consumers, to allow compensation for the costs Endeavour has incurred in its progress to achieve the AER’s benchmark expenditure levels by the final year of the current determination period.
The full submission can be read here.