Island in the energy price storm: renewables help ACT cut power costs

ACT is the only jurisdiction bucking the trend of soaring power bills now plaguing the rest of AustraliaGet our free news app; get our morning email briefingThe ACT will cut electricity prices this year, bucking a trend of soaring power bills for the rest of Australia, as the territory benefits from long-term contracts that locked in low-cost renewable energy.Basic tariffs will fall by a minimum of at least 1.25% from 1 July, the ACT's independent competition and regulatory commission said on Monday. "This is equivalent to a real decrease of 4.93% after excluding inflation," it said. Continue reading...