Electricity Price Rise

Below is an except from a Brisbane Times article on power price hikes:

It is official – power prices are set to rise by about another $200 a year.

The Queensland Competition Authority made no changes to its draft determination price from December, meaning a typical household on tariff 11 will see a 13.6 per cent increase in electricity prices for the next financial year. That works out to about $192 over the year.

A typical small business customer will see a jump of about 11.5 per cent or $219 to their tariff.

QCA chairman Malcolm Roberts said the increase was largely driven by a higher cost of wholesale energy and the solar bonus scheme payments.  

Last financial year, household electricity prices increased by about 22 per cent or $260 a year.  The July increase will see the average bill of $1407 jump to $1598. 

“It is unusual to see the wholesale price rise like this,” Mr Roberts said.

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