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Electricity Costs in New South Wales: The State of the Electricity Market in Australia
For starters, it helps to better understand where electricity in New South Wales comes from to determine the average electricity costs in New South Wales. Electricity in New South Wales is generated from sources like:
- Black coal
- Natural gas
- Coal seam methane gas
- Hydro power
- Wind power
- Biomass power
- Solar power
New South Wales currently has 18,000 MW available in installed electricity generation capacity. New South Wales further connects to Victoria and Queensland to provide an additional electricity generation capacity of 1500 MW and 1100 MW respectively.
Electricity Cost in New South Wales: Power Generation Statistics
Out of the 7.6 million households in Australia, there are 2.7 million homes in New South Wales that need electricity each day, according to the New South Wales Government. In Sydney alone, there are more than 1.5 million households using electricity in the metropolitan area.
Unfortunately, using all of the power sources listed above is hardly an inexpensive way to generate electricity for residents in New South Wales. Most power plants in New South Wales will burn coal as a primary fuel source, in addition to using other various fuel resources listed above.
Here are several important facts to consider about using fuel resources like coal to generate electricity in New South Wales:
- 65-70% of all energy released from burning coal is lost through heat waste as fuel is generated, transmitted, and distributed as energy to homes.
- An average home in New South Wales uses 7300 kWh of electricity per year, which creates 160,000 black balloons of carbon pollution annually.
- It takes roughly half a kilogram of coal to create 1 kWh of electricity for a home in New South Wales.
- In New South Wales alone, over 10 million tonnes of coal are burned each year to supply the increasing demand for electricity in this state.
Average Electricity Costs in New South Wales
With these facts in mind, it's no wonder that electricity is becoming more and more expensive each year in New South Wales. According to a leading electricity retailer in New South Wales, Integral Energy, peak energy charges for homes in New South Wales are as much as 31.82 cents per kilowatt hour, excluding GST.
Fortunately, off-peak energy rates are as low as 11.93 cents per kilowatt hour, excluding GST. This is a sobering reminder for all residents in New South Wales to use electricity whenever possible during off-peak hours to save money with cheaper rates.
Even more importantly, residents can now compare local electricity providers to choose cheaper rates available to potentially save on monthly power bills!
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It’s never been easier to compare energy providers than with ElectricityWizard. Call now on 1300 557 077 and speak to an energy specialist who will help you find a better deal to meet your needs.