The energy regulator has announced that electricity prices are to rise by over 20% from July 1, according to the Australian. The Default Market Offer (DMO) will be allowed to rise between 19.5% and 23.7%, which is slightly higher than the estimate made in March. Victoria will see the highest rise and South Australia the lowest. The increase will feed into the CPI and add pressure on the RBA, which has stated that supply needs to be raised to reduce power prices.

The DMO is a guide for energy retailers from which they make discounts to customers. Recently fewer discounts have been submitted.

Homepage Bullet Markets Fixed Income News Foreign Exchange News

Maxine Koster

Homepage Bullet Markets Fixed Income News Foreign Exchange News

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Electricity Prices To Rise Over 20% From July 1