Power price spike 'just the start' as smaller energy retailers struggle with surging wholesale market
ABCAs Australians digested the news this week that benchmark electricity prices are set to rise by as much as 18 per cent, Bruce Mountain had a worrying thought. Small retailers 'to go bust' Most ominously, Mr Mountain said wholesale power costs that had risen 141 per cent in the 12 months to the end of March were threatening to send many smaller electricity retailers to the wall. And if — or more probably when — that happened, he said competition would largely evaporate from the market and electricity bills could leap as much as 50 per cent. Eye-watering price rises Mr Gibson said tariff increases ranged from 43 per cent to an eye-watering 285 per cent — increases which he claimed many consumers could not afford. Consumers facing rough ride Although the lack of integration could be an advantage when wholesale prices were low, Mr Mountain said it was a potentially fatal weakness when the market surged.
History of this topic
Electricity retailers label complex power prices 'perverse' as industry goes to war with itself
ABCEnergy retailers' 'insidious' power pricing charges households based on highest point of use
ABCElectricity prices are crashing but don't expect cheaper bills anytime soon
ABC'Excessive' power costs for consumers questioned as wholesale prices tumble
ABCWholesale power prices soared 141 per cent, year on year, and households should brace for more
ABCSolar power prices are falling. What does this mean for our household electricity bills?
ABC
‘Significant’ price rises coming to household energy bills, Ofgem warns
The Telegraph
Wholesale prices surge 1.3%, led by health care and energy
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