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Cost of living: Australians gloomily increase electricity bills by $ 100 amid rising electricity prices

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Australians have been advised to shop for energy supplies with consumers who will face an increase in electricity bills by $ 100.

A recent report by the Australian Energy Market Operator (AEMO), which operates the grid, shows that residents are likely to see an increase in electricity bills of $ 100, and wholesale prices will double in the last 12 months.

Financial comparison site Finder warns that thousands of households will pay a significant bill on July 1 – regardless of the election results.

Energy expert Finder Mariam Gabaji urged consumers to look for energy plans by that date.

“You have two different types of energy plans on the market: those that offer fixed tariffs for a certain period (for example, 12 months) or others that have variable rates,” she said.

“If you don’t like to switch often from plans to electricity in search of the cheapest variable rates, you’re more likely to take advantage of a fixed-rate plan.”

Camera iconResidents can count on an increase in electricity bills by $ 100. Supplied / source Credit: sources

Joel Gibson of One Big Switch, a consumer grid, said residents would combine rising electricity prices with rapid inflation.

“This is just the beginning, unfortunately. Retailers are very reluctant to raise prices, but they are coming, and different retailers will have different influences on where they get their energy from, ”he said.

“We want everyone who receives a price increase letter to send it to us so we can paint a fuller picture and tell Australians where the biggest price increase is.”

Katter Party Presser
Camera iconAustralians will compare rising electricity prices with rapid inflation. Alix Sweeney Credit: News Corp Australia

“If you’re not ready to go shopping and switch this year, your electricity bill could grow by hundreds of dollars, in addition to increased groceries, gasoline and mortgages.”

Statistics from Australia show that electricity prices for the year rose by 3.5 per cent, contributing to overall inflation of 5.1 per cent.

The increase in bills for impending electricity has been the result of a heated political debate over rising consumer prices and pressure on the cost of living.

Both Scott Morrison and Anthony Albanese have pledged to keep electricity prices low after annual inflation rose to its highest level in two decades.

Federal Labor has allocated $ 20 billion for the Nation-Building Policy, which it has promised will follow the AEMO scheme for transfer projects, commonly known as the Integrated System Plan.

Prime Minister Scott Morrison has noted an 8 per cent drop in electricity prices over the past two years, arguing that Labor’s energy policies will lead to higher prices.

He had previously said his government had supplied “affordable, reliable energy”.

https://thewest.com.au/business/cost-of-living-australians-grim-100-power-bill-increase-amid-electricity-price-hike-c-6768264

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