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SA Poised for Power Price Fall

ByBrett Pilgrim

With energy prices rising, the cost of power is likely to be a consideration for anyone thinking of purchasing property at the moment.

As a result, real estate in Adelaide could see a popularity boost, as the South Australian government announces a fall in power prices likely to take place over the next three years.

Energy minister Tom Koutsantonis explained how research from the Australian Market Energy Commission (AMEC) predicts a fall in costs of 0.9 per cent over the next three years.

This makes South Australia one of just two states where a decline is forecast over this period.

"This state outperforms the national trend, which shows residential prices are expected to increase on average by 1.2 per cent a year during the next three years from 2012-13 to 2015-16," said Mr Koutsantonis.

He urged existing residents to shop around for the best deal, as the AMEC report found standing offer prices are likely to rise by an average of 0.3 per cent by 2016.

This will see some people paying considerably more for their energy than others at a time when South Australians are looking to cut down their household bills.

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