King Island power bills set to rise

POWER prices on King Island will rise effective September 1, similar to those set for mainland Tasmania.

Over the past few years, the island has had parity with Tasmanian price increases Tasmanian Economic Regulator Joe Dimasi approved an average price increase of 0.5 per cent in Tasmania, as of July 1.

The stable price followed two years of significant increases — by 9.5 per cent in 2023–24 and by 11.9 per cent in 2022–23 and 5 per cent for residential and small business customers.

It means the annual power bill for most residential customers will increase by $16 and $5 for business customers. 

The Tasmanian Economic Regulator will review the State’s power prices model over the next year. 

Momentum Energy is part of the energy generator HydroTas and is King Island’s retail electricity supplier. 

Momentum’s Bass Strait Islands prices, tariff and charges for King and Flinders Islands are reviewed annually and any changes are generally reflected in billing after August.

Hydro is a Government Business Enterprise (GBE) and has a Customer Service Obligation (CSO) guaranteeing power supply, not pricing, on the island.

There is one tariff and the island does not have separate off-peak or business tariffs as offered on mainland Tasmania, despite wind and the 1.5- megawatt Huxley Hill solar farm renewables input.

The Federal Government offers a $300 rebate for all households, and a further $250 with the Tasmanian government, which also has a renewable energy dividend to reduce power bills.