It was almost certain that electricity demand will increase as it has been the trend for over a century. Our consumption has been increasing year over year – even when the economy was at its lowest point, so it came as a surprise 4 years ago when that trend changed; electricity demand has dropped – and it has been that way ever since.

The industry has been looking for answers for the sudden drop, and the best guess comes from Dr Hugh Saddler, energy expert for the Pitt and Sherry Consultancy. His report shows that the energy consumption for the national level has dropped to 4.3% in 2012 – 13. The biggest reason for the decline is that energy efficiency regulations that were introduced in the late 90’s are starting to catch up, as majority of residential and commercial appliances are rated to comply with such standards. This alone, covers 37% of the value of 37 terawatt hours that would have been added if the electricity consumption increased as forecasted in a 20 year period for 2012 – 13. Major industries have also seen minimal electricity changes, covering 14% of the total shortfall, and lastly, effects of the carbon tax on electricity have prompted people to either cut their usage, or find alternative energy sources.

Read more about this on the Age website.

The following two tabs change content below.
Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

Latest posts by Dorian Traill (see all)