Australian households are bracing for increased electricity costs in the coming months, further intensifying the current cost-of-living crisis. The Australian Energy Regulator (AER) announced a draft decision that will raise price caps for consumers on standing retail plans, effective from July 1.
Customers in New South Wales, south-east Queensland, and South Australia can expect price hikes ranging from 2.5% to 8.9%. Consequently, this will translate to annual cost increases of between $60 and $140, adjusted for inflation, varying by region.
AER Chairwoman Clare Savage acknowledged the significant challenges faced by energy consumers, particularly in areas like northern New South Wales and South East Queensland. Many of these communities are still recovering after disruptions caused by ex-Tropical Cyclone Alfred.