Here comes the utility bill shock

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Alboflation is here:

Electricity tariff increases of up to 51 per cent are set to hit some households this winter as retailers advise of price rises that far exceed the ones in regulated benchmark tariffs announced last month.

This week, AGL Energy advised customers of increases in peak and off-peak tariffs for power that will begin on July 1. While the average rise for AGL’s household customers in NSW on variable rate market contracts is 29.7 per cent, some face increases of as much as 51 per cent.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.