March 14, 2023 23:19 GMT
Energy To Continue Adding To Cost-Of-Living Pressures
Today the Australian Energy Regulator announced that households on standard energy plans could face price increases on July 1 of 19.5% to 23.7% while small businesses +14.7% to 25.4%, depending on where they are. The default market offer, which caps prices, rose 18% in 2022. The final price rise will be decided in May.
- The Energy Minister has said that there may be some relief in the May budget.
- The regulator noted that the cost of generating electricity contributes 30-40% to the default market offer price and that has driven the draft offer for July 1 because of supply issues and volatility.
- The Australian