The Australian Energy Regulator has approved power bill price increases of between 19.6 per cent and 24.9 per cent for households from July 1.
While wholesale power prices are significantly lower than 12 months ago, and despite the federal government’sPower prices will rise again from July 1.The determinations will put more pressure on the Albanese government, which has vowed to ease cost-of-living stresses on families after 11 interest rate rises since April last year.of between 19.6 per cent and 24.9 per cent from July 1, after a final determination from the Australian Energy Regulator.
Energy Minister Chris Bowen said customers were facing price rises of between 40 and 50 per cent before the government acted. “As flagged by the Australian Competition and Consumer Commission, retail businesses are already operating on razor-thin margins, which leaves no room to absorb higher wholesale costs, so it is critical that the regulator ensures these can be recovered,” she said.
Small business customers will be slugged an extra $639 in south-east Queensland; an extra $816 to $860 and $1310 or 28.9 per cent more in SA.
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