INDEPENDENT PRICING AND REGULATORY TRIBUNAL
OF NEW SOUTH WALES

NEWS RELEASE

RETAIL GAS PRICES - COUNTRY ENERGY

The Independent Pricing and Regulatory Tribunal of NSW (IPART) today issued a draft report on retail prices for residential and small business gas consumers supplied by Country Energy (formerly Great Southern Energy Gas Networks) in the Wagga area.

A set of proposed voluntary pricing principles are set out in the report.  Prices for residential and small business gas customers will increase only moderately between now and the middle of 2004.  The maximum increase in the annual bill for residential gas customers will be $20 or 5 per cent above the CPI.  Many customers will experience increases less than this maximum amount. Customers will also pay for approved costs associated with introducing retail competition.

Submissions on the report should be made to IPART by 10 November 2001, so that a final decision can be released at the end of November.

The draft report and the proposed voluntary pricing principles are available on IPART�s website www.ipart.nsw.gov.au.

Further Information:
Dr Thomas G Parry    - IPART Chairman   - (02) 9290 8411

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