The financial pain reaches thousands of aussies, as energy retailers have no choice but to raise prices amid a supply chain crisis.
Australians are about to receive another blow to the cost of living, as energy retailers across the country will raise prices by up to 130 per cent.
The changes, which will affect residents in NSW, Queensland and South Australia, could take effect next month.
Last week, alarmed customers received warnings from their energy suppliers that tariffs were about to rise.
These price increases are due to the rise in wholesale prices over the last year, which have increased by an average of 141 percent.
The price of coal and gas is largely to blame, which has more than doubled in this time period, according to the One Big Switch consumer network.
One Big Switch spokesman, Joel Gibson, said:
“It’s so important this year that households pay attention to their price increase chart and read it carefully because their plan could almost double the price and they could save hundreds of dollars just by changing.”
Discover Energy last week sent an email to customers warning them that rates were about to change.
In NSW, its customers’ energy bills would rise by 80 per cent, while in South Australia, that figure skyrocketed to 95 per cent.
To top it off, Discover customers can expect their supply charges to increase by 45 per cent in South Australia and by 130 per cent in NSW.
Meanwhile, Mojo Power emailed its NSW customers to let them know that their usage rates would increase by 58 per cent.
However, in some good news, Mojo Power added that its customers ’daily supply charge would drop by 29 percent.
Another power retailer, ReAmped, emailed its NSW customers about a 43% increase.
That would increase its annual bill by about 28 percent or $ 273 for a typical home, according to the One Big Switch model.
Queensland residents also feel the sting, with LPE contacting customers to warn them that rates would double.
“We’re increasing your usage rate by more than 100 percent,” the letter said.
Disappointed customers were turned to Ergon Energy with government support if they were not satisfied with their tariffs.
While all of these companies are lesser-known energy retailers, some of the major retailers also plan to raise prices.
Origin, AGL and EnergyAustralia have indicated that they will increase their rates in mid-June, but have not said how much.
The cost of living continues to rise
Earlier this month, the Reserve Bank of Australia had to raise interest rates for the first time in more than a decade, as inflation reached 5.1%.
It has never been so difficult to buy homes for the young, low-income population of Australia.
The nation is also experiencing a rental crisis, with too many tenants and not enough stock to circulate, causing stiff competition and inflated prices.
For several weeks in March, Australians were also caught in a petrol crisis, with a liter exceeding $ 3 in some places.
To compensate, a reduction in fuel tax has been introduced. However, since then, fuel prices have risen again with problems caused in part by Russia’s invasion of Ukraine.
Read related topics: Cost of living