Power prices to surge up to 18.3 per cent as energy market turmoil flows through to households
2 years, 10 months ago

Power prices to surge up to 18.3 per cent as energy market turmoil flows through to households

ABC  

Millions of Australian households are set to be hit by soaring electricity costs after the energy industry watchdog increased key prices by hundreds of dollars a year. Key points: Benchmark electricity prices will rise up to 18.3 per cent under a decision by the Australian Energy Regulator Increases to the so-called default market offers will amount to hundreds of dollars a year in some cases The AER has cited rocketing wholesale power costs, which have risen more than 140 per cent in the past year In a fresh blow to households dealing with surging costs of living, the Australian Energy Regulator has decided to pass on hefty increases to a benchmark power price. Soaring costs the backdrop The decision comes just weeks after the body that runs the National Electricity Market said wholesale prices have rocketed more than 140 per cent in the 12 months to March 31. "Winter is almost upon us and, with it, the need for many Australian households and small businesses to increase their energy use at certain times to keep themselves warm, comfortable and healthy," Ms Gallagher said. "No one likes to see prices rise, and with the current cost of living pressures, it's important that consumers shop around for the best deal," she said.

Energy Market Electricity Costs Prices Cent Increase Queensland Australian Households Wholesale Dmo Lydia Rorimpandey Power Retailers  market  cent  increase  flows  electricity  surge  australian  183  wholesale  turmoil  prices  energy  power  retailers  costs  households

History of this topic

'Energy prices could and should be lower', but are retailers profiteering?
1 month, 1 week ago

'Energy prices could and should be lower', but are retailers profiteering?

ABC  

As Australia's biggest energy generators and retailers AGL and Origin report their profits results, there are calls for more to be done to reduce electricity and gas prices. In reporting its half-year results on Thursday, Origin attributed its 2 per cent profit increase to $1 billion to higher gas export prices offsetting lower earnings in east coast power markets. The …

Electricity retailers label complex power prices 'perverse' as industry goes to war with itself
5 months, 3 weeks ago

Electricity retailers label complex power prices 'perverse' as industry goes to war with itself

ABC  

Australia's electricity retailers have lashed as "incredibly perverse" changes to the way people are charged for power that are leaving many with complex prices and higher bills. According to the AEC, the real problem is "network tariff reassignment", which occurs when a home is fitted with a smart meter and the poles-and-wires company starts charging the retailer cost-reflective tariffs at …

Claims complex power prices 'all pain, no gain' spark calls for tariff rethink
6 months, 3 weeks ago

Claims complex power prices 'all pain, no gain' spark calls for tariff rethink

ABC  

The peak body representing energy users has attacked complex power prices that charge consumers more at peak times, saying they do not work and may only hurt average people. In a damning assessment, Energy Consumers Australia said charging households and small businesses more for power at peak times may do little — or even nothing — to avoid network upgrades …

Power prices that are 'double' the benchmark spark calls for overhaul of energy consumer safeguards
7 months ago

Power prices that are 'double' the benchmark spark calls for overhaul of energy consumer safeguards

ABC  

Some households are being charged more than double the regulated benchmark price for electricity, fuelling claims that Australia's energy consumer protections are failing and need to be overhauled. Among them is one customer from South Australia whose new costs are an "estimated" 103 per cent above the default offer, otherwise known as the government reference price. The regulator said the …

Australian energy rule maker signals shake-up of complex power prices amid user concerns
9 months, 2 weeks ago

Australian energy rule maker signals shake-up of complex power prices amid user concerns

ABC  

In short: The Australian Energy Market Commission has signalled a revamp of electricity pricing rules. One of Australia's most powerful energy watchdogs has flagged a shake-up of electricity pricing rules amid concerns about the spread of complex and often punishing tariffs affecting unwitting consumers. Anna Collyer, who is the chair of the Australian Energy Market Commission, will on Wednesday morning …

Power bills to be slashed across Australia's southeastern states
10 months ago

Power bills to be slashed across Australia's southeastern states

Daily Mail  

Consumers across Australia's eastern states are set to benefit from a fall in household power bills from July 1 as a cut to electricity price caps and government energy rebates deliver hundreds of dollars worth of relief to cash strapped families. The Australian Energy Regulator's final default market offer - a price ceiling to ensure customers receive the lowest price …

New benchmarks show power prices unlikely to drop beyond handouts
10 months ago

New benchmarks show power prices unlikely to drop beyond handouts

ABC  

In short: The country's biggest energy regulator has passed on a mixed bag of tweaks to benchmark electricity rates. Amid news that New South Wales would extend the life of the Eraring coal-fired power plant to help keep a lid on prices, the Australian Energy Regulator handed down its final decision on the so-called default market offers that could apply …

Winners and losers as energy regulator outlines mixed bag of power price changes
1 year ago

Winners and losers as energy regulator outlines mixed bag of power price changes

ABC  

In short: The Australian Energy Regulator has suggested modest decreases in benchmark power prices for some customers but increases for others. Following price hikes of up to 40 per cent in the past two years, the Australian Energy Regulator has proposed far more modest tweaks to the so-called default market offer. "We know that economic conditions have put pressure on …

Millions of Australian households paying too much for electricity, according to ACCC
1 year, 8 months ago

Millions of Australian households paying too much for electricity, according to ACCC

ABC  

After a busy Saturday morning, the Turners are home and powering up. Sarah McNamara, the chief executive of the Australian Energy Council, which is the peak body for electricity retailers, said the ACCC's analysis of electricity bills was not evidence of price gouging. "The rules of the market that we've created allow retailers to set whatever prices they want," Mr …

Sting in the tail of Australia's energy crisis as power prices soar up to 100pc for some
1 year, 8 months ago

Sting in the tail of Australia's energy crisis as power prices soar up to 100pc for some

ABC  

Some Australian households are facing power price hikes of up to 100 per cent as the "long tail" of last year's energy crisis hits home hard, according to consumer advocates. Key points: Benchmark power prices will rise 20-25 per cent across Queensland, NSW, Victoria and SA from Saturday Consumer advocates warn tariffs could jump much higher for customers on expiring …

AGL, Origin announce upcoming energy price rises for households, small businesses
1 year, 9 months ago

AGL, Origin announce upcoming energy price rises for households, small businesses

ABC  

The cost of keeping homes warm this winter is about to jump, with two major energy retailers confirming bills will soon rise hundreds of dollars per year. Key points: AGL and Origin Energy announce energy price rises Prices will rise between 20 and 29 per cent from July and August The retailers say increased wholesale electricity prices are mainly to …

Electricity prices set to surge up to 30 per cent as regulators reveal draft pricing plans
2 years ago

Electricity prices set to surge up to 30 per cent as regulators reveal draft pricing plans

ABC  

The Australian Energy Regulator has revealed draft electricity price increases of between 20 and 22 per cent over the coming financial year, while Victorian consumers can expect a 30 per cent price surge. Key points: The AER has proposed default offer price increases of 20-22 per cent for most households across three states Its determination acts as a benchmark for …

Government imposes one-year price cap on gas, but Australians still face hundreds in energy bill rises
2 years, 3 months ago

Government imposes one-year price cap on gas, but Australians still face hundreds in energy bill rises

ABC  

Gas prices will be capped for a year in an effort to restrain runaway electricity price increases, after a last-minute meeting of parliament before the year's end. Key points: The government has passed laws allowing it to impose a limit on gas prices The legislation also sets up funding to provide energy bill relief to Australians The measures will soften …

Turmoil widens Australia's energy divide as costs accelerate fastest for poorer households
2 years, 3 months ago

Turmoil widens Australia's energy divide as costs accelerate fastest for poorer households

ABC  

Australia's energy crisis is widening the gulf between rich and poor households according to a new report that shows costs accelerating much faster for consumers on low and middle incomes. Key points: Energy Consumers Australia says power costs are rising faster for poorer households than wealthy ones Electricity bills have jumped 20 per cent on average this year and further …

Between rolling natural disasters and COVID, Australia's economy is experiencing a shift from shock to persistent problem
2 years, 5 months ago

Between rolling natural disasters and COVID, Australia's economy is experiencing a shift from shock to persistent problem

ABC  

Major flooding in suburban areas of Melbourne in the last couple of days have only reinforced the sense that we are now in a world of more or less rolling natural disasters. "The Treasury's current expectation is that a bigger and bigger part of this inflation problem over time will be what happens with power prices," Chalmers told journalists in …

Energy giant warns electricity prices could increase by 35 per cent next year
2 years, 5 months ago

Energy giant warns electricity prices could increase by 35 per cent next year

ABC  

One of Australia's biggest energy companies has warned that retail electricity prices may increase by more than 35 per cent next year. Key points: Russia's invasion of Ukraine, and transitioning away from fossil fuels, have increased energy costs across the world Australian consumers have already experienced big increases in electricity prices in recent years There are concerns about the amount …

Consumer confidence in Australia's energy system suffers steepest-ever plunge
2 years, 6 months ago

Consumer confidence in Australia's energy system suffers steepest-ever plunge

ABC  

Confidence in Australia's main electricity market has suffered its sharpest ever collapse as the crisis engulfing the east coast energy industry hits home for consumers. Key points: There are predictions households face multiple price hikes in the coming year amid the energy crisis Experts say the pricing system is "regressive" and that governments need to try to help consumers Confidence …

Electricity retailers raise fixed charges to recoup costs after record highs in spot market
2 years, 7 months ago

Electricity retailers raise fixed charges to recoup costs after record highs in spot market

ABC  

Natalie, from Tweed Heads in northern New South Wales, has cut her electricity usage to the bare minimum. "I understand everyone is getting a price increase," she said, "but it just feels a little bit unfair that they've put so much on the daily rate. The New South Wales Energy and Water Ombudsman, Janine Young, said every customer would be …

Consumers warned of looming 'nightmare' as AEMO reports record wholesale electricity costs
2 years, 7 months ago

Consumers warned of looming 'nightmare' as AEMO reports record wholesale electricity costs

ABC  

Millions of Australian households have been warned to brace for savage hikes to their power bills after prices in the country's biggest electricity market rocketed to their highest levels on record. Key points: Wholesale prices in the national electricity market averaged $264/MWh in the three months to June 30 The figure was twice the previous highest quarterly average and three …

Explained | Why is Australia facing an electricity crisis despite being a top exporter of coal and gas?
2 years, 9 months ago

Explained | Why is Australia facing an electricity crisis despite being a top exporter of coal and gas?

The Hindu  

The story so far: On Thursday, June 16, Chris Bowen, the Energy Minister of Australia — the world’s biggest exporter of coal and Liquified Natural Gas — asked the residents of its most populous state New South Wales, to conserve power as much as possible during the peak demand hours of 6 pm to 8 pm to prevent blackouts. This …

Queensland power blackouts averted as AEMO directs generators to protect network
2 years, 9 months ago

Queensland power blackouts averted as AEMO directs generators to protect network

ABC  

After warning Queenslanders of possible blackouts, the Australian Energy Market Operator has said it was using its powers to direct electricity generators to avoid shortfalls. Key points: The AEMO energy price cap saw energy generators decrease their supply of energy to the market But generators have been directed by the AEMO to provide sufficient power generation to cover the shortfall …

Australia's energy ministers have an 11-point plan. Here's why it won't ease prices any time soon
2 years, 9 months ago

Australia's energy ministers have an 11-point plan. Here's why it won't ease prices any time soon

ABC  

Australia's surging power prices have been hit by the "perfect storm", and that's being felt in households around the country. But an 11-point plan from Australia's energy ministers released after meeting on Wednesday isn't going to ease prices any time soon, with federal Energy Minister Chris Bowen saying there's no "silver bullet". A cold snap, rising fuel prices thanks to …

Australians 'panicking' as power prices skyrocket, consumer advocates say
2 years, 9 months ago

Australians 'panicking' as power prices skyrocket, consumer advocates say

ABC  

Robert Meggs likes to keep a close eye on how much electricity his household uses. Key points: Advocates say growing numbers of consumers are facing power price rises of "unprecedented" size Regulators have stepped into the domestic gas market after prices rose 50 times higher than normal New Energy Minister Chris Bowen has warned the energy price crisis is unlikely …

Australia on the 'precipice' of a UK-style energy crisis as soaring costs push retailers out
2 years, 9 months ago

Australia on the 'precipice' of a UK-style energy crisis as soaring costs push retailers out

ABC  

Australia is on the "precipice" of a UK-style energy crisis that could send many of its power retailers broke and fuel a surge of households unable to pay their bills, a leading expert has warned. Key points: There are warnings Australia could slide into a UK-style energy crisis where retailers go broke and energy poverty soars New Zealand-based provider ReAmped …

Wholesale power prices soared 141 per cent, year on year, and households should brace for more
2 years, 10 months ago

Wholesale power prices soared 141 per cent, year on year, and households should brace for more

ABC  

Households already battling rocketing living costs are facing more pain via their power bills, with the body that runs the electricity market saying prices in that sector have also surged in the past year. Key points: AEMO says wholesale electricity prices in the NEM rose 141 per cent in the first quarter compared with last year Coal plant outages, higher …

Australian power prices now 'among lowest in the world' as renewable energy drives costs down
3 years, 1 month ago

Australian power prices now 'among lowest in the world' as renewable energy drives costs down

ABC  

A flood of renewable energy has helped drive down household power prices to their lowest levels in almost a decade, according to a report which suggests Australia has some of the cheapest electricity in the world. Key points: Australia ranked 10th lowest among advanced economies for the average price of electricity Industry analysis finds power prices are their lowest in …

AEMO calls for funding hike as renewable energy levels send management costs soaring
3 years, 1 month ago

AEMO calls for funding hike as renewable energy levels send management costs soaring

ABC  

Costs incurred by the body that keeps the lights on across Australia's major electricity systems are skyrocketing as surging levels of renewable energy increasingly challenge the security of the grid. Key points: AEMO has asked for a 66 per cent increase in funding to manage WA's main electricity grid The proposal mirrors the situation on the east coast, where costs …

Bill shock looms for households as global energy crisis fuels price surge
3 years, 5 months ago

Bill shock looms for households as global energy crisis fuels price surge

ABC  

Households are set for a shock as surging international prices for gas put upward pressure on costs for the fuel in Australia, according to one of the country's biggest power providers. Key points: Global prices for gas have reached record highs amid energy crises in Europe, Asia Customers have been warned to brace for increases to energy bills Gas is …

Australians are missing out on $500 million in electricity savings by failing to shop around
4 years, 1 month ago

Australians are missing out on $500 million in electricity savings by failing to shop around

ABC  

The price of electricity is falling, but households are missing out on $500 million in savings by failing to switch to a cheaper deals, new analysis shows. Key points: South Australians can save up to $200 a year by seeking out the best power prices Consumers should check Government website Energy Made Easy to compare energy prices Moves are being …

Power prices set to rise and blackouts increase as bushfire seasons become more ferocious
5 years, 2 months ago

Power prices set to rise and blackouts increase as bushfire seasons become more ferocious

ABC  

Australian consumers can expect higher power prices and more frequent power blackouts as fire seasons get longer and blazes more intense. Key points: Rising insurance premiums for power utilities are "undoubtedly" going to be passed on to consumers AER regulations allow for costs for rebuilding infrastructure damaged to be recovered from customers The energy regulator AEMO has called for an …

Energy 'confusion-opoly' blamed for consumers paying too much for electricity
6 years, 4 months ago

Energy 'confusion-opoly' blamed for consumers paying too much for electricity

ABC  

Energy prices have become so confusing that at least 1 million Australian households are languishing on uncompetitive deals. Key points: On average, electricity prices have increased by 75 per cent since 2009, according to Vinnies Victoria, SA have seen biggest rises Analysis finds many households could be saving between $500 to $1,000 if they negotiate a better deal That's according …

Origin Energy offers small discount, after hiking power bills by 15pc last year
6 years, 9 months ago

Origin Energy offers small discount, after hiking power bills by 15pc last year

ABC  

Origin Energy has announced it will cut the power bills of customers in south-east Queensland and South Australia from July 1 — despite introducing double-digit price hikes last year. Origin Energy will cut the electricity bills of customers in some states, despite hiking prices last year. "Customers have felt the pinch of higher electricity prices and while this is a …

Victoria's 'unusually high' electricity, gas prices should be reregulated, review finds
7 years, 7 months ago

Victoria's 'unusually high' electricity, gas prices should be reregulated, review finds

ABC  

Victorians are paying, on average, 21 per cent more than the cheapest price on offer for electricity and gas, according to a bipartisan review into the state's electricity and gas retail markets that recommends regulating power prices again, eight years after they were deregulated. The recommendation is one of 11 measures put forward to drive down prices, protect consumers and …

Power prices: 13 ways government could bring down electricity costs
7 years, 7 months ago

Power prices: 13 ways government could bring down electricity costs

ABC  

Energy retailers would be forced to offer assistance to people at risk of not paying their bills under one of 13 recommendation put forward by Victoria's peak welfare group. Federal Energy Minister Josh Frydenberg said the Coalition Government was still working with energy companies to try to reduce skyrocketing prices. But Australian National University social policy expert Peter Whiteford said …

Power prices: Australia has a gold-plated electricity grid that consumers can't afford
7 years, 8 months ago

Power prices: Australia has a gold-plated electricity grid that consumers can't afford

ABC  

The Australian energy system stands as a monument to vested interests. Key points: The majority of a grid owners' income is guaranteed by the regulators' valuation of the network The Australian network is valued at $US75b, compared to the entire US network valued at $US100b When the grids' earnings fall, prices can go up to cover the shortfall It is …

Energy regulator asked to probe Queensland's power prices, as 'political petty games' continue
7 years, 8 months ago

Energy regulator asked to probe Queensland's power prices, as 'political petty games' continue

ABC  

The Australian Energy Regulator has been asked to investigate Queensland power prices by Federal Energy Minister Josh Frydenberg, in a move slammed as blatantly political by the State Government. 'More political petty games' But the Queensland Government said the AER had already investigated the matter, finding the high prices were caused by higher electricity demand, heat-related network and generation constraints, …

Energy watchdog issues price warning to retailers of household gas, electricity retailers
7 years, 11 months ago

Energy watchdog issues price warning to retailers of household gas, electricity retailers

ABC  

Governments should be open to the idea of the "nuclear option" of re-regulating household gas and electricity prices if retailers do not improve their offering to consumers, the head of Victoria's energy watchdog says. Essential Services Commission chairman Ron Ben David said price re-regulation should only be implemented if other regulatory measures fail to tip the market in favour of …

Solar power growth modelling flawed, energy tariffs could soar: UWA study
8 years, 1 month ago

Solar power growth modelling flawed, energy tariffs could soar: UWA study

ABC  

West Australian consumers could face huge power price hikes in the coming years unless the State Government starts to factor in the exponential growth of renewable energy, a new study has found. Report author Bill Grace from the University of Western Australia said the nation's energy regulator — the Australian Energy Market Operator — had greatly underestimated the future uptake …

Big electricity retailers marking up costs by $650 a year in South Australia, GetUp says
8 years, 7 months ago

Big electricity retailers marking up costs by $650 a year in South Australia, GetUp says

ABC  

Activist group GetUp has accused electricity retailers of adding big margins and mark-ups to South Australian power bills. GetUp said AGL, Origin Energy and Energy Australia were charging South Australians a mark up of $650 each year, about twice what customers were paying for the actual generation of the electricity. Retailers blame rising wholesale costs AGL, Origin Energy and Energy …

Peak demand electricity price fluctuations hit South Australian businesses
8 years, 8 months ago

Peak demand electricity price fluctuations hit South Australian businesses

ABC  

A private power station in Adelaide has been asked to boost its output because some of South Australia's biggest businesses have been struggling to cope with a huge jump in their electricity prices at times of peak demand. The Government said a planned outage of the Heywood power interconnector with Victoria, higher gas prices and severe cold weather were to …

SA Government calls on commission to investigate if electricity price rises
8 years, 9 months ago

SA Government calls on commission to investigate if electricity price rises

ABC  

AGL, Origin Energy, and Energy Australia could be investigated to see if reasons given for a spike in South Australian electricity prices rise can be justified, the State Government says. "These electricity price increases from AGL, Origin, and Energy Australia add significantly to cost of living pressures on affected customers," Mr Koutsantonis said. "In light of the community concern over …

Energy Australia announces electricity price hike for South Australian customers
8 years, 9 months ago

Energy Australia announces electricity price hike for South Australian customers

ABC  

A third electricity provider within a week has announced it is increasing its charges for South Australian customers. Key points: Three energy companies announce price increases of between $117 and $260 a year Welfare agencies concerned as families struggle to pay bills Treasurer Tom Koutsantonis says people need to shop around for an energy provider Energy Australia has followed in …

Origin Energy announces 6.5 per cent price hike for SA customers, blames coal, gas supply issues
8 years, 9 months ago

Origin Energy announces 6.5 per cent price hike for SA customers, blames coal, gas supply issues

ABC  

Power company Origin Energy has followed in AGL's footsteps, announcing it will increase its electricity and gas charges for South Australian customers from July 1. Yesterday AGL revealed its prices would rise by about 10 per cent for South Australian customers, working out to be about $230 extra per year. "Changes to the electricity generation mix in South Australia has …

SA power bills fight taken to Australian Competition Tribunal
8 years, 9 months ago

SA power bills fight taken to Australian Competition Tribunal

ABC  

South Australian households deserve reduced electricity prices, community organisations have told the Australian Competition Tribunal. Key points: SA Power Networks is appealing to a competition tribunal after being told to cut prices Financial counsellors say their clients deserve cheaper power bills Irrigators argue high power costs are making it hard to compete globally The Australian Energy Regulator recently ordered SA …

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