2022-23 Annual Report released

Aurora Energy has today released its 2022-23 Annual Report, highlighting its ongoing investment in Tasmania despite ongoing developments and challenges in the external environment.

“As the national transition to renewable energy increased pace, Aurora remained steadfast in our journey to empower our customers to make better energy choices and provide a service care model by Tasmanians for Tasmanians,” Chair Mary O’Kane said.

Critical to this empowerment is the continued roll-out of advanced meters across the state, which will help to facilitate the development of modern products that enable energy insights, such as aurora+.

As of 30 June 2023, 165,000 or 60 per cent of all regulated residential and small business customers have had their basic meter replaced with an advanced meter.

While the energy retailer’s financial performance was sound, recording a profit after tax of $8.2M, Professor O’Kane said Aurora was cognisant of the impacts of rising cost of living pressures, of which household energy use makes up a material portion.

A range of national and global events over the past 18 months has placed significant upward stress on the supply chain, particularly the wholesale energy market. With wholesale costs accounting for 40 per cent of the electricity bill, these pressures have been a major driver for increased prices for consumers across Australia.

To help mitigate price increases, Aurora Energy worked alongside State and Federal Governments to establish new targeted bill relief for customers. Up to 140,000 households and around 35,000 small businesses in Tasmania will be eligible for these new rebates.

In addition, the Your Energy Support (YES) incentive program was extended, a range of community service organisations continued to be assisted and $200,000 was provided to top up the Tasmanian Government’s energy hardship fund to directly support customers experiencing financial vulnerability.

An ongoing emphasis on connection and employee wellbeing, supported by hybrid working, helped produce strong results across both Aurora’s culture and engagement measures.

OTHER KEY HIGHLIGHTS

In 2022-23, Aurora Energy:

• enabled more customers to gain greater visibility and control of their energy costs through aurora+, including making it available to flat rate tariff business customers, with over 70,000 Tasmanians now signed up;

• invested $8M in projects that will realise business enhancements and improve outcomes for customers in response to challenges in the external environment;

• announced further protections for customers by launching a family and domestic violence policy, which will provide additional support for people in vulnerable circumstances;

• teamed up with the Amigos Interpreters and Translators to design flyers in languages other than English to ensure no Tasmanian is left behind;

• contributed over $400,000 in partnerships and donations to support worthwhile projects and causes, including $50,000 to the Ronald McDonald House; and

• provided $250,000 to assist more than 270 Tasmanians to buy energy efficient appliances through the No Interest Loans (NILS) Energy Saver Loan and Subsidy program.

To view Aurora Energy’s 2022-23 Annual Report, visit auroraenergy.com.au/about/who-we-are/our-annual-reports