Murray River Council to save over $400,000 with new electricity deal

By Lua Ikenasio

Nov 7, 2024

Murray River Council has struck a deal to keep the lights on. Photo by Aidan Briggs

Murray River Council has secured an electricity supply agreement with Iberdrola Australia through to the end of 2030.

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The agreement is predicted to save the council around $413,498 over the next six years, compared to its current power bills.

It will also act as a financial safety net, fixing energy prices until 2030 and shielding the council from the electricity market roller-coaster.

Mayor John Harvie said the deal would mean greater energy security at a lesser cost.

“Securing a stable and predictable electricity price through to 2030 not only strengthens our energy security but also delivers significant cost savings,” he said.

The deal comes as part of a buyer’s group facilitating a power purchase agreement for 13 regional councils in NSW.

The Powering Tomorrow: Regional Councils NSW PPA managed to secure 390 gigawatt hours of electricity for 163 major council sites and street-lighting across regional NSW.

Through the collaboration, the participating councils increased their collective buying power to secure a competitive deal and reduced the procurement costs by sharing resources and fees.

As per the agreement, a significant portion of the electricity supply will be from renewable sources.

By Lua Ikenasio