How will this impact electricity bills?
A report from the Victorian Energy Network found a large portion of Victorian households will see their electricity bills go up by an average of $1,300, a significant jump from the $2,500 to $5,000 they were expecting.
The report, released on Wednesday, showed the average residential customer was paying $2.16 a day more for electricity.
But the report also found most households were not saving much on their electricity bill, with a quarter paying more than they needed to.
“It’s a big jump, but we don’t have a long term picture yet of what that will mean,” Victoria Energy Network chief executive Andrew Wright said.
“The report shows that about half of households will have an increase in their electricity price by the end of this year.”
The report also showed that the average electricity bill in Victoria rose by $1.63 a day, with households paying an average $2 a day on average.
The average Victorian household was paying an extra $1 a day for electricity, while the average household in the rest of Australia was paying less than half of what they were paying.
The Victorian Energy Networks annual electricity price survey found average electricity bills rose by an estimated $2 in 2016.
It was expected to rise by $2 more in 2017.
The energy network is calling on the state Government to increase the average wholesale electricity price for households, to $1 by 2021, to be the lowest in the nation.
Mr Wright said the Victorian Government had not been forthcoming with details about how the increase would be paid for.
He said the Government needed to ensure people were paying a fair price.
“You’re talking about an extra 15 per cent to 20 per cent increase in your bill,” Mr Wright told ABC Melbourne.
“We have to see the details, and the details of how that will be paid.”
The Victorian Government has yet to provide any detail on how it will pay for the increase, or what the average increase would cost, but Mr Wright expects the Government to be able to pay for it by capping electricity bills.
“For the most part, the Government has said it will cap the price of electricity,” he said.
Mr Hamilton said he was worried about people losing out on electricity if the Government did not take steps to keep prices low.
“If the Government does not cap prices at the rate of $2 to $3 a day that’s going to be a big loss for most households,” he told ABC Victoria.
The electricity network’s survey was conducted between February 5 and 18. “
That’s why I’m so worried about the Government not doing anything.”
The electricity network’s survey was conducted between February 5 and 18.
It found that of the 7,700 households surveyed, an average 1,000 had already experienced an increase and a further 1,400 were experiencing a drop in electricity prices.
Mr Butler said many of those people would struggle to make ends meet with higher electricity prices, with the average price for the week of February 18 being $1 more than what it was for the previous week.
The survey also found the majority of consumers who have experienced an electricity increase were between the ages of 55 and 64.
Mr Webster said he thought the average Australian was being hit by a “fairly heavy” rise in electricity bills because of the economic downturn.
“People don’t think about the effect of electricity prices when they’re trying to make a budget,” he explained.
“I think the big change has been the fact people have been forced to get used to higher prices.”
Victorian Government: Electricity bills are up over $1k The Victorian government says it has taken steps to protect consumers from the impact of higher electricity costs, including increasing the average retail price for residential customers from $1 to $2 by 2021.
The new price will be implemented over a five-year period, beginning in 2021 and ending in 2022.
The State Government says it will provide financial support to help pay for this increase, but it will also be able for the consumer to request an increase to their electricity provider’s rate.
This will help pay the costs of higher energy costs and will also give the consumer more options to save.
Consumers can contact the State Government’s Consumer Services Bureau on 1300 956 833.
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