Electricity bills for some Australian households have increased by more than 9% due to the final call from energy regulators for safe net prices.
Retailers can charge households and businesses in New South Wales, South Australia, Queensland and Southeast Victoria for what they can cap what they want to protect thousands of customers who tend to set and work to set up their own power plans.
About 9% of households and 18% of small businesses are on the default market.
New South Wales customers offer the highest prices between 8.3% and 9.7%, depending on their network area.
Starting July 1, some users in the state may tilt at $280 per year.
Regulators update default market quotes to reflect the cost of retailers paying for generators and shipping through wires and wires.
Australia's Energy Regulatory Authority (AER) Chairman Clare Savage said that the wholesale costs and transmission of New South Wales are larger than other states.
“In NSW, we have seen some unexpected coal-fired power station disruptions that could increase wholesale costs,” Savage told ABC on Monday.
She also marked investments in networks to make them more resilient to cyberattacks and climate risks, such as floods caused by New South Wales.
Although Savage says wholesale and network costs are rising in most jurisdictions, other states listed by AER will also increase.
Residential customers with default plans in southeast Queensland are expected to increase 0.5% to 3.7% hikes, while people in South Australia face growth rates of 2.3% to 3.2%.
Victorian households may expect an average bump of 1% on average, according to the Basic Services Commission, and in fact some distribution areas are actually the front line of price declines.
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Urge families and businesses to be nervous about energy bill hiking, and 80% of customers are likely to save money by pursuing better deals.
Energy Minister Chris Bowen acknowledged that electricity prices are putting pressure on households and businesses, noting that there was a relief from bill extensions in the last budget.
“For Australians, clear energy bills are still too high and we help people who are struggling as we make long-term reforms.”
He also urged people to surf around and save 27% by switching to competitive market plans.
Australian Energy Consumer CEO Brendan French said that if the price is as high as 27% above the market price, the safety net system cannot work effectively.
"The industry should focus on reducing costs at all stages of the supply chain and making the network as efficient as possible, otherwise consumers may lose the benefits of the energy transition," the Frenchman said.