Gas Prices Set to Fall

In Energy, Latest News

• Household gas network charges down $168 since 2015
• Small businesses to save around $150 in 2018
• Up to $1,000 cash-back for new gas appliance purchases

Leading gas company, Jemena, has slashed gas network charges for its New South Wales customers for the fourth year in a row in a move which will see its portion of gas bills decrease by an average of four per cent from 1 July.

Together with savings from 2015 to 2017 Jemena has shaved around $168 off the network charges portion of a typical household gas bill. This represents a 33 per cent decrease in network fees since 2015.

Jemena’s Executive General Manager of Customer & Markets, Shaun Reardon said today’s announcement is great news for New South Wales households who will be able to access gas for superior heating and cooking at a cheaper price.

“We know New South Wales gas customers are feeling the impact of high gas bills as a result of the increase in wholesale gas prices. While we cannot control the wholesale price of gas, this is one way we are working to ensure gas continues to deliver value for money,” said Mr Reardon.

“We’re also offering gas customers a suite of cash-back offers worth up to $1,000 when they purchase new gas appliances, as part of our commitment to driving gas prices down.”

Mr Reardon said around 1.3 million New South Wales homes will benefit from the reduction which will see typical households save around $12 off their gas bill. The savings for an average small business are even greater, with small businesses benefitting from a nine per cent decrease worth around $150. This decrease complements reductions worth around $558 from 2015.

“In order for customers to benefit from this price reduction we’re calling on energy retailers – the companies who bill customers – to pass these savings on directly to customers as part of their annual review of energy prices.”

Mr Reardon said gas network costs account for around 37 per cent of an average household bill.

2020-2025 Gas Pricing Proposal

Jemena is currently developing its gas pricing proposal for 2020-2025, with customer being asked to provide their views on the future of the New South Wales gas network.

“We’re out in the community listening to our customers and are committed to developing a pricing proposal which reflects their views and expectations,” said Mr Reardon.

“Together with the cost of energy, we’re keen to explore our customers’ thoughts on how we can use low-carbon fuels like gas to support intermittent technologies like wind and solar power.

“We also believe ‘green gas’ technology – that is gas without a carbon footprint – can be easily added to the existing gas distribution network, and are keen to explore customer appetite for this reliable and sustainable fuel source.”

Jemena recently launched Your Network, Your Say – an online portal which provides New South Wales gas customers with an opportunity to contribute to Jemena’s 2020-2025 pricing proposal.

Jemena’s five-year pricing proposal will be available for public feedback in 2019.

To learn more about Jemena’s Natural Gas Cashback Offer visit www.gonaturalgas.com.au.

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