15 March 2023 / Petra Stock
Explainer: Why are electricity prices expected to rise, yet again?
Today, it’s the cost of generating electricity, in the future transmission will play a bigger role.
increases of up to 23.7% from July following a report from the Australian Energy Regulator.
The increase will affect customers on standard power plans, known as the “default market offer” in South Australia, New South Wales and south-east Queensland.
Small businesses could be facing price increases of between 14.7% to 25.7% depending on their location.
The default market offer represents the maximum price is an electricity retailer can charge retail customers for their electricity in those states which have opted in to the system. There are around 540,000 household and 91,000 business customers in NSW, SA and Qld on the default market offer.
In Victoria, an equivalent default offer set by the Essential Services Commission is expected to rise by 31.1%. In Australia, energy is largely the domain of state and territory governments, and other states have different approaches.
https://cosmosmagazine.com/technology/explainer-why-are-electricity-prices-expected-to-rise-yet-again/
