As expected, and covered in my earlier posts, due to poor Government Gas policy over a long period leading to a Gas cartel, Electricity bills will rise by as much as 9 per cent from July 1, the Australian Energy Regulator has declared. The Australian Energy Regulator (AER) released its draft decision “default market offer” (DMO) today, which will see price caps for customers on standing retail plans lifted starting from July 1.
As a result, prices are expected to rise between 2.5 per cent and 8.9 per cent for customers in NSW, south-east Queensland, and South Australia. Small business customers face prices increases of between 4.2 per cent and 8.2 per cent.
“We’ve seen cost pressures across nearly every component of the Default Market Offer (DMO), and we have given careful scrutiny to every element of the DMO cost stack to ensure prices are a reasonable reflection of the costs of a retailer to supply electricity.” AER said.
The solution is simple, end the gas cartel, reserve gas for domestic use, rather than deciding to let international corporations hold Australian households to ransom, and import gas at international prices. And no, the answer is not to use more public money to subsidise the profits of the cartel, while appearing to sound caring to households.
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