As of Monday, the majority of Australia can expect to pay more for their electricity as price rises are implement across the majority of Australian states.
The price of the carbon tax went up from $23 to $24.15 a tonne on Monday, which will end up costing the average family $545 a year. There has also been additional pricing pressures such as network infrastructure that continues to raise prices.
The average household in Queensland will pay an additional $268 a year to reach an estimated average of $1500 this financial year. This represents a 22.6% increase, the largest since 2009. The majority of this is due to network costs “poles and wires” which have been forecast to rise by 19% in the 2013-2014 financial year. The Brisbane Times reported that these larger than expected increases will have the effect of “bill shock;” causing Queenslanders to spend less on electricity and cut retail spending.
In Victoria, bills have reached a 10 year high after 5 consecutive years of increases. The average bill has increased almost a third from 2008 through to 2012. In NSW the state’s pricing regulator increased electricity prices by 1.7 per cent, costing the average household an additional $63 a year. Tasmania prices under Aurora Energy have also increased 1.8 per cent after being approved by the Tasmanian Economic Regulator in June. Electricity prices in Tasmania have more than doubled since 2000.
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