An innovative new energy partnership with Local Energy Network (LEN) Operator, Energy On, is driving down power bills for social and affordable housing renters.
Energy On has partnered with the Victorian Government to roll out LENs at new social and affordable housing sites in Ascot Vale, Ashburton, Heidelberg West, Hawthorn, and North Richmond – and is part of the Government’s commitment to achieve net zero carbon emissions by 2045.
Homes Victoria CEO Simon Newport said the deal "sets a benchmark for the rest of the country”.
“This is an important part of our commitment to reduce cost of living pressures while protecting the environment now, and for future generations,” Mr Newport said.
“We’re ensuring social and affordable renters get the very best energy deal in the market through this partnership, and all powered by 100% renewable energy.”
Local Energy Networks, or LENs, are privately owned and managed energy networks that supply electricity and hot water to all premises or tenancies within a specific building or complex.
Generally, LENs require at least five per cent of the electricity sold to residents to come from on-site renewable energy and the remainder to be sourced from offsite renewable energy sources.
The impact for renters is significant, with the average energy bill noticeable lower compared to current Victorian Default Offer.
In addition, a quarterly pricing review ensures that the prices offered to renters are always equal to or cheaper than the best offer in the market with a price match guarantee.
Omar, who recently moved back to the Dunlop Avenue Ascot Vale Big Housing Build Site after several years waiting for it to be redeveloped, is among those to benefit from the nation-leading initiative.
“The new building is very nice, and we have air con now,” said Omar.
“Despite the fact we now have air con, and my electricity usage has increased, my bill really hasn’t increased much.”
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