We warned and warned and warned and now they are here:
Around three quarters of the nation’s households and businesses are now facing substantial rises in their power bills from next month, after Origin Energy announced price hikes for electricity and gas.
Rounding out price increases from the big three generators and retailers, Origin Energy — the biggest of the trio — confirmed the pressure on wholesale prices from a historic lack of investment in new baseload generation capacity.
Business and homes in Queensland, NSW and South Australia are all set to pay more.
New South Wales, which came close to blackouts amid soaring temperatures in February, faces the steepest percentage increases for electricity, with business bills set to rise 18 per cent or $748 a year while households will pay an extra $282, up 16.1 per cent.
But South Australians, who faced blackouts from September and who already have the most expensive power, will face the biggest dollar increases. Businesses are set to pay $920 or 15.3 per cent more, while households will pay $313 or 15.9 per cent more.
Origin’s rises for electricity are among the lowest of the big three retailers, with AGL Energy and EnergyAustralia revealing hikes of nearly 20 per cent in recent days.
You are now effectively subsiding ORG’s loss making gas exports. That means you are also subsidising cheaper bills for households and businesses across Asia. Very good of you.
