Australian households and businesses are being told to brace for a tough and expensive winter. From July 1 electricity prices could soar in some parts of the east coast by up to 30 per cent. Government intervention may help provide leniency, but not by much.
And from July 1, many customers across Australia will be shocked by their bills.
Regulators who oversee electricity markets along Australia's east coast, have released their draft prices for the next financial year.
More than a million residential customers with default-on deals will be impacted first.
From July 1, customers in Southeast Queensland face an increase of almost 20 per cent.
Customers in areas of the state faced an increase of nearly 29 percent.
Prices will rise by close to 22 per cent in South Australia, and more than 23 per cent in New South Wales.
Whereas Victoria, expects a 31 per cent increase in bills.
The majority of customers with discounted market retail prices will feel the hardship when their contracts expire.
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