Life and Luxury

Energy prices hit Australians hard

Energy prices hit Australians hard

The electricity hikes in Australia could ditch the household activities of the economic class. Upcoming months are expected to be even worse as the current prices have hiked up to 30% in some parts.

The Australian Energy Regulator authority passed a draft default offer imposing a cap on the electricity charges and can charge customers in NSW, South East Queensland, and some parts of South Australia.

Depending on the state and electricity provider, the cost of increases in electricity is between 19.5 percent and 23.7 percent. Small businesses can expect price rises of between 14.7 and 25.4 percent. Over 600,000 people across Australia are affected by the default offer.

The Essential Services Commission suggested an increase of 30 percent for households and 31 percent for small-scale businesses from July 1. It also said the cost of the typical household power bills would rise from $1403 – $1829 per year and small businesses could expect an increase from $5620 to about $7358. A final default offer is yet to be announced by the end of this year.

- Published By Team Australia News

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