After a dry year sent electricity prices for industry soaring in 2024, household power bills are increasing as multiple factors collide.
Household bills were insulated from last year's electricity price shocks because retailers that sell them electricity buy future contracts to maintain a stable price.
But they are rolling over to higher contracts that reflect what analysts think the supply and demand equation in the electricity market will be in the months and years ahead.
That means retailers have to increase prices for households and businesses.
And on April 1 - all monthly bills will increase by as much as $25 a month - as transmission and lines costs go up for maintenance and further investment in networks.
Consumer says its Powerswitch website usually has low traffic in summer, but it has been overwhelmed in recent weeks as people search for better deals.
According to analysis by retailer Octopus Energy - increases they've seen range from 10 per cent up to as much as 30 per cent in the space of a year.
There are moves to improve the electricity market but the price increases are already bedded in. Octopus Energy's chief operating officer is Margaret Cooney. Paul Fuge is Consumer's head of Powerswitch.
Photo: Kelly Sikema / Unsplash
