Energy suppliers will increase power and gas costs by up to $400 a year when changes happen from 1st July 2017. Energy Australia clients in South Australia will face yearly increments of $390 by and large – a hike of 19.9%, New South Wales customers faces a yearly increase of an estimated $319.
Clients of Origin and AGL will experience a hike of 16% in both NSW and South Australia, while AGL is increasing costs and South Australia by 19% and 18% respectively.
Energy retailers are additionally expanding the cost of natural gas due to shortage of demand in the domestic market, even though Australia is the biggest exporter in the world.
The cost of AGL’s natural gas in ACT and South Australia will increase 19% and 18% respectively.
The ACCC is currently looking into the electricity hike issue and making an effort to address it.
Estimated EnergyAustralia price Hike between 2017 – 2018
|Market||Electricity (average residential)||Gas (average residential)||Electricity (average small business)||Gas (average small business)|
|South Australia||20 per cent, $380||9 per cent, $70||20 per cent, $970||13.5 per cent, $970|
|New South Wales||20 per cent, $330||7 per cent, $50||20 per cent, $919||11 per cent, $1,049|
|Queensland||7.5 per cent, $132||12 per cent, $561|