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https://reneweconomy.com.au/australian-homes-could-slash-energy-bills-by-two-thirds-by-cutting-out-gas-and-petrol-aemc-says/>
"Australian households could lower their bills by over two thirds if they fully
electrify their home by cutting out gas and petrol according to a new report.
According to the Australian Energy Market Commission (AEMC), achieving this
will require a “well-managed” transition to electrification and efforts to
ensure equity so that renters, those living in apartment blocks and those who
cannot afford the upfront investment are not trapped with higher bills.
The report, delivered as a 38 page slide presentation, is a vastly slimmed down
version of what the agency, which is responsible for writing the rules that run
the gas and electricity markets, used to publish prior to the pandemic when it
released data-driven deep-dives that ran for over a hundred pages.
AEMC itself has also faced a changing role as the nature of the Australian
energy sector has evolved. A lack of national direction on questions such as
the transition to renewable energy has prompted states to pursue their own
strategies, making it hard for AEMC to fulfill its function and coordinate that
change.
Its
Residential Electricity Price Trends report is the first time the agency
has looked specifically at the average households total energy use usage to
understand how changes in the market will affect individuals.
The analysis suggests that a household which phases out oil and gas in the home
– by buying an electric vehicle (EV), installing solar panels and batteries,
and charging during times of the day when power is cheaper – may expect to
reduce their energy expenditure by 70%. For a typical household this represents
a drop from $5000 a year to under $1,500.
Those households with an EV are expected to save more each year as they avoid
volatile petrol costs and the cost of running their car will be lower.
In addition, the agency suggested that residential electricity prices will fall
by 13% over the next ten years in its base case scenario as new renewable
energy supplies come online and demand picks up with greater electrification."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
