AGL Energy (AGL) has announced increases to retailer solar feed-in-tariffs (FiTs) which help to offset the impact of higher prices in some states and deliver savings to customers with solar panels.

General Manager Sales & Marketing, Sandra de Castro, said retailer FiT increases for residential customers in Queensland, New South Wales (NSW), Victoria and South Australia would range from 77 percent to 140 percent, with new FiTs ranging from 11.1 cents to 16.3 cents per kWh (up from between 5.0 and 6.8 cents) and would be effective from 1 July 2017 (see table below).

“We estimate the increases in feed-in tariffs could be worth up to $3321 per year in extra savings for some customers, depending on which state they live in and the amount of solar energy they generate and export to the grid,” Ms de Castro said.

“These increases reflect significant rises in wholesale market prices and could help to offset the impact of higher residential electricity prices in Queensland, NSW and South Australia from 1 July which have also been impacted by increasing wholesale prices.

“Australia has the highest rate of household solar panel installation in the world, with around 15 percent of Australian homes hosting solar panels, and we see the uptake increasing especially as the price for solar PV (photovoltaic) systems continues to decrease. 

“We also know consumers are wanting and expecting greater control and visibility of their energy usage and management and this too is driving solar PV uptake.”

Victoria’s increase is as required by the Essential Services Commission. 

State

 Old rate (c/kWh)

 New rate (c/kWh)

 Increase (percent)

NSW

 6.1

11.1 

82 

Queensland

 6.0

10.6 

77 

South Australia

 6.8

16.3 

140 

Victoria

 5.0

11.3 

126 

 

1 This figure is based on a solar customer in South Australia with net generation (energy exported back into the grid) of 3.5
MWh per year and an increase in solar feed-in tariff from 6.8 cents per kWh to 16.3 cents per kWh. 

About AGL
AGL is committed to helping shape a sustainable energy future for Australia. We operate the country’s largest electricity generation portfolio, we’re its largest ASX-listed investor in renewable energy, and we have more than 3.5 million customer accounts. Proudly Australian, with more than 180 years of experience, we have a responsibility to provide sustainable, secure and affordable energy for our customers. Our aim is to prosper in a carbon-constrained world and build customer advocacy as our industry transforms. That’s why we have committed to exiting our coal-fired generation by 2050 and why we will continue to develop innovative solutions for our customers.


 
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