AER issues performance report
The AER has released its electricity network performance report for 2021.
The Australian Energy Regulator (AER) has published its third annual electricity network performance report which provides a check on how monopoly network businesses are performing under the regulatory regime.
The latest report looks at the key outcomes and trends in network services for 2021.
Consumers paid less for electricity transmission and distribution services in 2021 with network revenue being 5.6 per cent lower than 2020, continuing its downward trend since 2015.
Network maintenance and service quality were still strong, with customers experiencing fewer and shorter outages on average than in 2020.
Network businesses continued to be profitable and generated returns above the AER’s forecasts. This reflects a range of drivers, including financing strategies and spending less than the AER’s forecasts in several areas.
Electricity networks benefit from being natural monopoly businesses that operate in a stable regulatory environment.
The AER says it “will continue to closely monitor network investment and asset growth to ensure consumers are paying no more than necessary for a safe and reliable supply of energy”.