Households on the eastern seaboard will be hit with electricity bill increases of up to 25 per cent from July 1, adding to mounting cost-of-living pressures.
Households on the eastern seaboard will be hit with electricity bill increases of up to 25 per cent from July 1, adding to the mounting cost-of-living pressures facing Australian consumers.
This year’s default offer changes reflect significant spikes in wholesale prices – what retailers pay for power before they sell it onto their customers – caused by a spate of problems across Australia’s ageing coal-fired power stations and coal mines last year curtailing supply, while the war in Ukraine was driving up the cost of additional coal and gas needed to plug shortfalls.
Power industry representatives on Thursday welcomed the Australian Energy Regulator’s final determination, saying retailers were operating on “razor-thin” margins with little room to absorb higher wholesale costs, and it was critical that those costs could be recovered. The federal government is providing power bill rebates worth up to $500 for eligible households and $650 for small businesses. The subsidies vary across the country because the federal government cut different deals with states and territories, who’ll also contribute by paying energy retailers to lower consumers’ bills.
Social services groups on Thursday said the looming price hikes would be a blow for people on the lowest incomes.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Power bills to jump as much as 25pc (again)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.
Read more »
Power up! PE investor Fortitude scores perfect TENFortitude Investment has taken a majority stake in Queensland electricity equipment supplier The Energy Network as it gears up for more acquisitions in a sector it reckons will boom.
Read more »
Power Rankings: Panthers hold top spot; Sharks soar to secondCronulla have soared into second place on the NRL Power Rankings after going back-to-back in Coffs Harbour while Penrith have held on to their place on top heading into Round 13. Round 12 Power Rankings:
Read more »
What Australia always gets wrong about IndiaThe Albanese government needs to understand that New Delhi does not share the same world view, and is not beholden to the United States or any other power. auspol
Read more »
Energy bills to increase for one million Australians | 7NEWSFrom July 1, one million Australians can expect a near 30% increase on their energy bills, which is set to be confirmed by the Australian Energy Regulator today. Jennifer Bechwati joins us live from Parliament House with the details. TheLatest 7NEWS
Read more »