A significant 25 per cent hike in electricity costs is about to hit Victorian households starting 1 August, thanks to a new ruling.

Amid the dire cost of living crisis, these inflationary electricity rates are likely to put a further drain on the household budgets of Aussies living in this state.

The rising rates come as part of a new ruling affecting households and small businesses. Although part of the National Energy Market (NEM), Victoria's default offer prices are determined by the Essential Services Commission (ESC), an independent regulatory authority.

Around 15 per cent of households currently on the Victorian Default Offer will be most hit by this price spike, paying 25 per cent more. This has been revised down from an initial forecast of 31 per cent.

The hike is part of a new ruling. Credit: Brett Sayles/Pexels

With these new costs, customers can expect to part with an increased $1,755 this financial year, a significant leap from last year's $1,403.

Let us break it down for you: A default market offer is essentially the maximum price charged to households and small-sized business customers on standing deals and have yet to scout for a cheaper option.

For Victorian small businesses, the scenario gets even dicier: the yearly electric bill is projected to skyrocket from last financial year's $3,039 to a whopping $3,791 this year.

According to the ESC’s Kate Symons, the spike in the Victorian Default Offer mirrors the costs of supplying customers with electricity in the volatile wholesale market.

This new ruling comes into effect at the beginning of August. Credit: Jason Villanueva/Pexels

She said: ‘The Victorian Default Offer was created to support consumers who don’t want to or are unable to engage in the market to find a competitive market offer.’

‘It is a simple and transparent standing offer based on the commission’s independent assessment of the efficient costs to supply electricity to consumers,’ she continued.

Only a few months prior, the Australian Energy Regulator (AER) previously released the Default Market Offer for New South Wales, South Australia, and certain parts of Queensland. They stated that over 600,000 customers across these three states will be shelling out more from July 1.

The rate for residential customers will then see a price hike of between 19.6 and 24.9 per cent.

Meanwhile, small business customers should expect increases of anywhere between 14.7 and 28.9 per cent.

For Victorian households, there's yet another twist in the tale. Coupled with Victoria's aim to reduce emissions by 75 to 80 per cent by 2035, any new homes built from 1 January 2024 will no longer have access to the state's gas supply.

However, there is a silver lining: This ban is anticipated to save the average resident $1,000 on power bills annually.

So, while there may be a surge in your electricity bill this August, the wheels are in motion for potentially significant savings in the future.

On the bright side, aside from the potential long-term savings, switching from gas is a small step you could possibly take towards a greener, more sustainable future.

In the meantime, the Australian Energy Market Operator (AEMO) has predicted that households won’t catch a break on high bills until mid-2024, something seconded by Grattan Institute Energy and Climate Change Director Tony Wood.

While prices have indeed eased from the height of the country’s energy crisis last year, AEMO said they are still up from the first quarter of 2023 and are the second-highest Q2 figures on record.

Key Takeaways

• Victorian households are set to experience a 25 per cent increase in their electricity bills from Tuesday.
• The increase results from a new ruling by the Essential Services Commission, affecting households and small businesses on the Victorian Default Offer.
• This comes amidst an existing cost of living crisis and will see the average increase of electricity cost for households jump to $1,755 this financial year.
• The announcement that new homes built next year will be unable to connect to the state’s gas supply is one of the measures taken by the Victorian government to mitigate the current crisis.

What are your thoughts on this price hike, members? Share them in the comments below!

 

[Shane/#]

A significant 25 per cent hike in electricity costs is about to hit Victorian households starting 1 August, thanks to a new ruling.

Amid the dire cost of living crisis, these inflationary electricity rates are likely to put a further drain on the household budgets of Aussies living in this state.

The rising rates come as part of a new ruling affecting households and small businesses. Although part of the National Energy Market (NEM), Victoria's default offer prices are determined by the Essential Services Commission (ESC), an independent regulatory authority.

Around 15 per cent of households currently on the Victorian Default Offer will be most hit by this price spike, paying 25 per cent more. This has been revised down from an initial forecast of 31 per cent.

View attachment 26367

The hike is part of a new ruling. Credit: Brett Sayles/Pexels

With these new costs, customers can expect to part with an increased $1,755 this financial year, a significant leap from last year's $1,403.

Let us break it down for you: A default market offer is essentially the maximum price charged to households and small-sized business customers on standing deals and have yet to scout for a cheaper option.

For Victorian small businesses, the scenario gets even dicier: the yearly electric bill is projected to skyrocket from last financial year's $3,039 to a whopping $3,791 this year.

According to the ESC’s Kate Symons, the spike in the Victorian Default Offer mirrors the costs of supplying customers with electricity in the volatile wholesale market.

View attachment 26368

This new ruling comes into effect at the beginning of August. Credit: Jason Villanueva/Pexels

She said: ‘The Victorian Default Offer was created to support consumers who don’t want to or are unable to engage in the market to find a competitive market offer.’

‘It is a simple and transparent standing offer based on the commission’s independent assessment of the efficient costs to supply electricity to consumers,’ she continued.

Only a few months prior, the Australian Energy Regulator (AER) previously released the Default Market Offer for New South Wales, South Australia, and certain parts of Queensland. They stated that over 600,000 customers across these three states will be shelling out more from July 1.

The rate for residential customers will then see a price hike of between 19.6 and 24.9 per cent.

Meanwhile, small business customers should expect increases of anywhere between 14.7 and 28.9 per cent.

For Victorian households, there's yet another twist in the tale. Coupled with Victoria's aim to reduce emissions by 75 to 80 per cent by 2035, any new homes built from 1 January 2024 will no longer have access to the state's gas supply.

However, there is a silver lining: This ban is anticipated to save the average resident $1,000 on power bills annually.

So, while there may be a surge in your electricity bill this August, the wheels are in motion for potentially significant savings in the future.

On the bright side, aside from the potential long-term savings, switching from gas is a small step you could possibly take towards a greener, more sustainable future.

In the meantime, the Australian Energy Market Operator (AEMO) has predicted that households won’t catch a break on high bills until mid-2024, something seconded by Grattan Institute Energy and Climate Change Director Tony Wood.

While prices have indeed eased from the height of the country’s energy crisis last year, AEMO said they are still up from the first quarter of 2023 and are the second-highest Q2 figures on record.

Key Takeaways

• Victorian households are set to experience a 25 per cent increase in their electricity bills from Tuesday.
• The increase results from a new ruling by the Essential Services Commission, affecting households and small businesses on the Victorian Default Offer.
• This comes amidst an existing cost of living crisis and will see the average increase of electricity cost for households jump to $1,755 this financial year.
• The announcement that new homes built next year will be unable to connect to the state’s gas supply is one of the measures taken by the Victorian government to mitigate the current crisis.

What are your thoughts on this price hike, members? Share them in the comments below!

It all went to after Kennet/Liberal party sold off the Victorian SEC to private multinational companies and Kennet's legacy price's would be cheaper with competition what bullshit the idiot didn't think of collusion SECV was paying for itself and the lobotomised idiot had no idea

 

[Big M]

It all went to after Kennet/Liberal party sold off the Victorian SEC to private multinational companies and Kennet's legacy price's would be cheaper with competition what bullshit the idiot didn't think of collusion SECV was paying for itself and the lobotomised idiot had no idea

Do you have to speak like that? Would hate to be in your company!

 

[IAN3005]

Do you have to speak like that? Would hate to be in your company!

Sometimes the truth hurts.

 

[G-g]

A significant 25 per cent hike in electricity costs is about to hit Victorian households starting 1 August, thanks to a new ruling.

Amid the dire cost of living crisis, these inflationary electricity rates are likely to put a further drain on the household budgets of Aussies living in this state.

The rising rates come as part of a new ruling affecting households and small businesses. Although part of the National Energy Market (NEM), Victoria's default offer prices are determined by the Essential Services Commission (ESC), an independent regulatory authority.

Around 15 per cent of households currently on the Victorian Default Offer will be most hit by this price spike, paying 25 per cent more. This has been revised down from an initial forecast of 31 per cent.

View attachment 26367

The hike is part of a new ruling. Credit: Brett Sayles/Pexels

With these new costs, customers can expect to part with an increased $1,755 this financial year, a significant leap from last year's $1,403.

Let us break it down for you: A default market offer is essentially the maximum price charged to households and small-sized business customers on standing deals and have yet to scout for a cheaper option.

For Victorian small businesses, the scenario gets even dicier: the yearly electric bill is projected to skyrocket from last financial year's $3,039 to a whopping $3,791 this year.

According to the ESC’s Kate Symons, the spike in the Victorian Default Offer mirrors the costs of supplying customers with electricity in the volatile wholesale market.

View attachment 26368

This new ruling comes into effect at the beginning of August. Credit: Jason Villanueva/Pexels

She said: ‘The Victorian Default Offer was created to support consumers who don’t want to or are unable to engage in the market to find a competitive market offer.’

‘It is a simple and transparent standing offer based on the commission’s independent assessment of the efficient costs to supply electricity to consumers,’ she continued.

Only a few months prior, the Australian Energy Regulator (AER) previously released the Default Market Offer for New South Wales, South Australia, and certain parts of Queensland. They stated that over 600,000 customers across these three states will be shelling out more from July 1.

The rate for residential customers will then see a price hike of between 19.6 and 24.9 per cent.

Meanwhile, small business customers should expect increases of anywhere between 14.7 and 28.9 per cent.

For Victorian households, there's yet another twist in the tale. Coupled with Victoria's aim to reduce emissions by 75 to 80 per cent by 2035, any new homes built from 1 January 2024 will no longer have access to the state's gas supply.

However, there is a silver lining: This ban is anticipated to save the average resident $1,000 on power bills annually.

So, while there may be a surge in your electricity bill this August, the wheels are in motion for potentially significant savings in the future.

On the bright side, aside from the potential long-term savings, switching from gas is a small step you could possibly take towards a greener, more sustainable future.

In the meantime, the Australian Energy Market Operator (AEMO) has predicted that households won’t catch a break on high bills until mid-2024, something seconded by Grattan Institute Energy and Climate Change Director Tony Wood.

While prices have indeed eased from the height of the country’s energy crisis last year, AEMO said they are still up from the first quarter of 2023 and are the second-highest Q2 figures on record.

Key Takeaways

• Victorian households are set to experience a 25 per cent increase in their electricity bills from Tuesday.
• The increase results from a new ruling by the Essential Services Commission, affecting households and small businesses on the Victorian Default Offer.
• This comes amidst an existing cost of living crisis and will see the average increase of electricity cost for households jump to $1,755 this financial year.
• The announcement that new homes built next year will be unable to connect to the state’s gas supply is one of the measures taken by the Victorian government to mitigate the current crisis.

What are your thoughts on this price hike, members? Share them in the comments below!

We received an electricity bill, which was over $500 for the quarter as opposed to just $200. We are pensioners with health needs, so having the living part of our house warm enough to at least wear a jumper, long pants and warm footwear, is essential. We’ll pay but we’re not sure what to reduce in our fortnightly budget to allow for the extra for now on.

 

[Jest]

A significant 25 per cent hike in electricity costs is about to hit Victorian households starting 1 August, thanks to a new ruling.

Amid the dire cost of living crisis, these inflationary electricity rates are likely to put a further drain on the household budgets of Aussies living in this state.

The rising rates come as part of a new ruling affecting households and small businesses. Although part of the National Energy Market (NEM), Victoria's default offer prices are determined by the Essential Services Commission (ESC), an independent regulatory authority.

Around 15 per cent of households currently on the Victorian Default Offer will be most hit by this price spike, paying 25 per cent more. This has been revised down from an initial forecast of 31 per cent.

View attachment 26367

The hike is part of a new ruling. Credit: Brett Sayles/Pexels

With these new costs, customers can expect to part with an increased $1,755 this financial year, a significant leap from last year's $1,403.

Let us break it down for you: A default market offer is essentially the maximum price charged to households and small-sized business customers on standing deals and have yet to scout for a cheaper option.

For Victorian small businesses, the scenario gets even dicier: the yearly electric bill is projected to skyrocket from last financial year's $3,039 to a whopping $3,791 this year.

According to the ESC’s Kate Symons, the spike in the Victorian Default Offer mirrors the costs of supplying customers with electricity in the volatile wholesale market.

View attachment 26368

This new ruling comes into effect at the beginning of August. Credit: Jason Villanueva/Pexels

She said: ‘The Victorian Default Offer was created to support consumers who don’t want to or are unable to engage in the market to find a competitive market offer.’

‘It is a simple and transparent standing offer based on the commission’s independent assessment of the efficient costs to supply electricity to consumers,’ she continued.

Only a few months prior, the Australian Energy Regulator (AER) previously released the Default Market Offer for New South Wales, South Australia, and certain parts of Queensland. They stated that over 600,000 customers across these three states will be shelling out more from July 1.

The rate for residential customers will then see a price hike of between 19.6 and 24.9 per cent.

Meanwhile, small business customers should expect increases of anywhere between 14.7 and 28.9 per cent.

For Victorian households, there's yet another twist in the tale. Coupled with Victoria's aim to reduce emissions by 75 to 80 per cent by 2035, any new homes built from 1 January 2024 will no longer have access to the state's gas supply.

However, there is a silver lining: This ban is anticipated to save the average resident $1,000 on power bills annually.

So, while there may be a surge in your electricity bill this August, the wheels are in motion for potentially significant savings in the future.

On the bright side, aside from the potential long-term savings, switching from gas is a small step you could possibly take towards a greener, more sustainable future.

In the meantime, the Australian Energy Market Operator (AEMO) has predicted that households won’t catch a break on high bills until mid-2024, something seconded by Grattan Institute Energy and Climate Change Director Tony Wood.

While prices have indeed eased from the height of the country’s energy crisis last year, AEMO said they are still up from the first quarter of 2023 and are the second-highest Q2 figures on record.

Key Takeaways

• Victorian households are set to experience a 25 per cent increase in their electricity bills from Tuesday.
• The increase results from a new ruling by the Essential Services Commission, affecting households and small businesses on the Victorian Default Offer.
• This comes amidst an existing cost of living crisis and will see the average increase of electricity cost for households jump to $1,755 this financial year.
• The announcement that new homes built next year will be unable to connect to the state’s gas supply is one of the measures taken by the Victorian government to mitigate the current crisis.

What are your thoughts on this price hike, members? Share them in the comments below!

as far as i am concerned those who agree with the climate change can suffer. alas those who are angry have to suffer too. so many old farts who make deals. fall for any drivel.

 

[MariaG]

I made a call to my energy provider about 18 months ago to question why my power bill had hiked up the way it did from one quarter to the next, then the next. The upshot was that our plan was inadequate. So, I dug the nail in and managed to obtain a more appropriate plan. The next quarter was more acceptable.
During that phone call I took something very important on board. There was a subtle warning during our conversation that pretty much warned me of what is happening now. As a result, we stopped procrastinating and added another row of solar panels giving a total of 12. We also decided to dig into the nest egg and pay for battery storage and received a government subsidy for that. We already have solar hot water so that is covered.

We continue to have had the benefit of pensioner subsidy for which we have always been grateful.

When we did the maths, even though the buy back rates are insultingly low, we feel it will take around 4 years to recoup the money paid for those additions. You can't put a dollar value on peace of mind. Also, there is a possibility that blackouts will begin to emerge once power stations begin their closures. Battery storage is getting us ready for that, if it happens.

The next bill will be my first opportunity to compare a quarter from this year vs last year. Fingers crossed we have made the right decision.

I don't know how people are going to cope if they do not have the means to install solar. It must be a nightmare. My feeling is that our lives are being run by a bunch of white collar, overpaid, over educated individuals who sit there clicking away on their spreadsheets and have no idea what Mr & Mrs average are dealing with. Just like puppies, they table their reports that show the gigantic profits that can be made then get told, good boy - pat on the head - sit and we will give you a giant bonus treat.

My only suggestion to my SDC friends is not to be too proud to ask for help. It is out there. Do some research and dig into the web searches for all your might. We really need to be informed in this world of non-empathetic bureaucrats.

 

[Luckyus]

A significant 25 per cent hike in electricity costs is about to hit Victorian households starting 1 August, thanks to a new ruling.

Amid the dire cost of living crisis, these inflationary electricity rates are likely to put a further drain on the household budgets of Aussies living in this state.

The rising rates come as part of a new ruling affecting households and small businesses. Although part of the National Energy Market (NEM), Victoria's default offer prices are determined by the Essential Services Commission (ESC), an independent regulatory authority.

Around 15 per cent of households currently on the Victorian Default Offer will be most hit by this price spike, paying 25 per cent more. This has been revised down from an initial forecast of 31 per cent.

View attachment 26367

The hike is part of a new ruling. Credit: Brett Sayles/Pexels

With these new costs, customers can expect to part with an increased $1,755 this financial year, a significant leap from last year's $1,403.

Let us break it down for you: A default market offer is essentially the maximum price charged to households and small-sized business customers on standing deals and have yet to scout for a cheaper option.

For Victorian small businesses, the scenario gets even dicier: the yearly electric bill is projected to skyrocket from last financial year's $3,039 to a whopping $3,791 this year.

According to the ESC’s Kate Symons, the spike in the Victorian Default Offer mirrors the costs of supplying customers with electricity in the volatile wholesale market.

View attachment 26368

This new ruling comes into effect at the beginning of August. Credit: Jason Villanueva/Pexels

She said: ‘The Victorian Default Offer was created to support consumers who don’t want to or are unable to engage in the market to find a competitive market offer.’

‘It is a simple and transparent standing offer based on the commission’s independent assessment of the efficient costs to supply electricity to consumers,’ she continued.

Only a few months prior, the Australian Energy Regulator (AER) previously released the Default Market Offer for New South Wales, South Australia, and certain parts of Queensland. They stated that over 600,000 customers across these three states will be shelling out more from July 1.

The rate for residential customers will then see a price hike of between 19.6 and 24.9 per cent.

Meanwhile, small business customers should expect increases of anywhere between 14.7 and 28.9 per cent.

For Victorian households, there's yet another twist in the tale. Coupled with Victoria's aim to reduce emissions by 75 to 80 per cent by 2035, any new homes built from 1 January 2024 will no longer have access to the state's gas supply.

However, there is a silver lining: This ban is anticipated to save the average resident $1,000 on power bills annually.

So, while there may be a surge in your electricity bill this August, the wheels are in motion for potentially significant savings in the future.

On the bright side, aside from the potential long-term savings, switching from gas is a small step you could possibly take towards a greener, more sustainable future.

In the meantime, the Australian Energy Market Operator (AEMO) has predicted that households won’t catch a break on high bills until mid-2024, something seconded by Grattan Institute Energy and Climate Change Director Tony Wood.

While prices have indeed eased from the height of the country’s energy crisis last year, AEMO said they are still up from the first quarter of 2023 and are the second-highest Q2 figures on record.

Key Takeaways

• Victorian households are set to experience a 25 per cent increase in their electricity bills from Tuesday.
• The increase results from a new ruling by the Essential Services Commission, affecting households and small businesses on the Victorian Default Offer.
• This comes amidst an existing cost of living crisis and will see the average increase of electricity cost for households jump to $1,755 this financial year.
• The announcement that new homes built next year will be unable to connect to the state’s gas supply is one of the measures taken by the Victorian government to mitigate the current crisis.

What are your thoughts on this price hike, members? Share them in the comments below!

Sheer price gouging, nobody can justify in todays climes or any climes a 25% prie hike. Corporate theft with the blessing of your elected government. Vote the bastards out, thank Christ I'm not going to be around much longer. I fel sorry for those that will follow.

 

[Jest]

while we all sit on our backsides and accept climate warming/change we will reap what we are given. The biggest scam and rort Australia has ever made. Look back 10 years ago with the supposedly dirty coal used. No moaning back then.

 

[kevinwoodtufftyke52@gmail]

A significant 25 per cent hike in electricity costs is about to hit Victorian households starting 1 August, thanks to a new ruling.

Amid the dire cost of living crisis, these inflationary electricity rates are likely to put a further drain on the household budgets of Aussies living in this state.

The rising rates come as part of a new ruling affecting households and small businesses. Although part of the National Energy Market (NEM), Victoria's default offer prices are determined by the Essential Services Commission (ESC), an independent regulatory authority.

Around 15 per cent of households currently on the Victorian Default Offer will be most hit by this price spike, paying 25 per cent more. This has been revised down from an initial forecast of 31 per cent.

View attachment 26367

The hike is part of a new ruling. Credit: Brett Sayles/Pexels

With these new costs, customers can expect to part with an increased $1,755 this financial year, a significant leap from last year's $1,403.

Let us break it down for you: A default market offer is essentially the maximum price charged to households and small-sized business customers on standing deals and have yet to scout for a cheaper option.

For Victorian small businesses, the scenario gets even dicier: the yearly electric bill is projected to skyrocket from last financial year's $3,039 to a whopping $3,791 this year.

According to the ESC’s Kate Symons, the spike in the Victorian Default Offer mirrors the costs of supplying customers with electricity in the volatile wholesale market.

View attachment 26368

This new ruling comes into effect at the beginning of August. Credit: Jason Villanueva/Pexels

She said: ‘The Victorian Default Offer was created to support consumers who don’t want to or are unable to engage in the market to find a competitive market offer.’

‘It is a simple and transparent standing offer based on the commission’s independent assessment of the efficient costs to supply electricity to consumers,’ she continued.

Only a few months prior, the Australian Energy Regulator (AER) previously released the Default Market Offer for New South Wales, South Australia, and certain parts of Queensland. They stated that over 600,000 customers across these three states will be shelling out more from July 1.

The rate for residential customers will then see a price hike of between 19.6 and 24.9 per cent.

Meanwhile, small business customers should expect increases of anywhere between 14.7 and 28.9 per cent.

For Victorian households, there's yet another twist in the tale. Coupled with Victoria's aim to reduce emissions by 75 to 80 per cent by 2035, any new homes built from 1 January 2024 will no longer have access to the state's gas supply.

However, there is a silver lining: This ban is anticipated to save the average resident $1,000 on power bills annually.

So, while there may be a surge in your electricity bill this August, the wheels are in motion for potentially significant savings in the future.

On the bright side, aside from the potential long-term savings, switching from gas is a small step you could possibly take towards a greener, more sustainable future.

In the meantime, the Australian Energy Market Operator (AEMO) has predicted that households won’t catch a break on high bills until mid-2024, something seconded by Grattan Institute Energy and Climate Change Director Tony Wood.

While prices have indeed eased from the height of the country’s energy crisis last year, AEMO said they are still up from the first quarter of 2023 and are the second-highest Q2 figures on record.

Key Takeaways

• Victorian households are set to experience a 25 per cent increase in their electricity bills from Tuesday.
• The increase results from a new ruling by the Essential Services Commission, affecting households and small businesses on the Victorian Default Offer.
• This comes amidst an existing cost of living crisis and will see the average increase of electricity cost for households jump to $1,755 this financial year.
• The announcement that new homes built next year will be unable to connect to the state’s gas supply is one of the measures taken by the Victorian government to mitigate the current crisis.

What are your thoughts on this price hike, members? Share them in the comments below!

This price hike of over 20% is a bloody disgraceful and greedy act by private businesses! Our federal government should stop this crap and make these businesses increase prices inline with the CPI rate only. This increase is only going to increase inflation and put many people and businesses in financial crisis.

 

[IAN3005]

This price hike of over 20% is a bloody disgraceful and greedy act by private businesses! Our federal government should stop this crap and make these businesses increase prices inline with the CPI rate only. This increase is only going to increase inflation and put many people and businesses in financial crisis.

As if they care about us plebs..... we are the further less thing in their mind... they merely want to squeeze us into submission. And cull out the older generation which they have successfully done... anyone who THINKS and has not succumbed to their brainwashing tactics must be put down like mangy currs.