There has been an increasing concern of the rise in electricity prices across the different states in Australia. The main concern has been in New South Wales where families can expect to pay an additional of over $300 per year or around 20 per cent increase, as a result of the carbon tax and general rise in electricity prices. Business can also expect to be paying $500 or more per year in addition to current electricity bills. While other states around Australia can expect to see a rise in electricity prices from $182 starting July 1.
The Independent Pricing and Regulatory Tribunal (IPART) said that the large increase in power prices are caused by a combination of rising network costs such as the poles and wires, as well as the introduction of the carbon tax.
On average, Australians pay around 25 cents per kilowatt hour of electricity. This is higher than many other developed countries including Singapore, United Kingdom, France, Hong Kong, United States, Canada, with their electricity prices ranging from 23 cents per kilowatt hour to 10 cents per kilowatt hour.
Australia’s high electricity prices coupled with the upcoming carbon tax causing higher increase will significantly affect lower income households and pensioners, especially in the Illawarra area.
These constant rise in power prices are becoming a more significant issue as the carbon tax closes. It seems now would be a great time to switch to solar and start saving on these inevitable price rises!
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