Australian households struggling with high living costs will be hit harder when the winter comes as electricity prices are expected to rise sharply in the next few months.
However, regulators said the price rises would be much lower than what was forecasted before the federal government intervened in the energy market by capping coal and gas prices in December 2022.
On March 15, the Australian Energy Regulator (AER) revealed the draft version of the default market offer (DMO) for the 2023-24 financial year, highlighting increases of up to 23.7 percent compared to the current electricity prices.
The DMO is the maximum rate energy retailers can charge residential and small business customers in three regions that are part of the National Electricity Market: New South Wales (NSW), South Australia and southeast Queensland….