State Election 25 March: NSW Government aims to take power from retirement village operators over embedded networks

All retirement village owners know the cost of installing an embedded network for its facility.

Now, with the NSW Election four weeks away, the NSW Liberal and Nationals Government on Sunday announced an Embedded Network Action Plan to cut residents’ energy bills.

Matt said that embedded networks have failed to deliver for many energy consumers, adding complexity and holding back customers from getting the best deals the market has to offer.

“Whether you’re living in a free-standing home, or in an apartment block, caravan park or retirement village, every family should be able to access essential services at a fair price,” Treasurer  Matt Kean said.

The plan includes taking the power from setting village residents’ prices for energy from retirement village managers by:

• Introducing a maximum, IPART determined price for gas and for hot and chilled water supplied through embedded networks.
• Initiating an IPART review into electricity prices in embedded networks, to recommend whether the maximum price within embedded networks should be set below the Commonwealth’s default market offer.
• Initiating an IPART review on whether the NSW Government should ban the establishment of new hot and chilled water embedded networks.