Electricity prices are set to rise significantly across various regions in Australia, with some areas experiencing increases of over 13 per cent. Canstar spokesperson Sally Tindall labelled the hikes a “sucker punch” for consumers, particularly as AGL has announced a 13.5 per cent increase in New South Wales starting from July 1. In addition to this, prices will escalate by 8 per cent in South Australia, 7.5 per cent in Queensland, and 6.8 per cent in Victoria, which will add approximately $110 to the average household’s expenses in that state.
The increases come amidst criticism from the federal opposition, who argue that the government’s price caps have failed, leading to persistent price hikes. Shadow Treasurer Angus Taylor remarked on the government’s inability to manage energy prices effectively. While AGL has confirmed its new pricing, Origin Energy is yet to finalise its electricity charges for Victoria.
In terms of gas costs, Victorian households will face an additional yearly expense of $85 — the largest increase nationwide. Despite these rises, Origin’s Chief Marketing Officer Catherine Anderson encouraged customers to explore flexible payment options, assuring them of support during this challenging time.
To mitigate the impact on struggling households, the federal government will provide a $150 electricity discount to each household, alongside an extra $100 for concession card holders in Victoria. For those not benefiting from these discounts, consumers are advised to compare energy plans and shop around. Tindall emphasised the potential savings, stating, “By shopping around, you could potentially save hundreds of dollars off your electricity bill.” Other retailers are expected to announce their pricing structures soon, leading to further developments on the energy landscape in Australia.