Late on Thursday afternoon Treasurer Matt Kean announced an increase to the state’s Energy Accounts Payment Assistance program for households experiencing short-term financial hardship. Under the program application limits will increase from $300 to $400,up to a maximum of $1600 a year.
“This means the annual maximum limit of vouchers has increased from $1200 to $1600 per household,” Kean said.
The Australian Energy Regulator on Thursday announced double-digit jumps in household and small business bills across the country within weeks with price caps on what retailers can charge set to rise.
So-called “default market offers” – price caps on what retailers can charge households and businesses that don’t take up special deals or bundle utilities bills – would rise in all states across the east-coast electricity grid,the regulator said on Thursday.
From July 1,default offers will jump by 14 per cent,or $227,in NSW;11 per cent,or $165,in Queensland;and 7 per cent,or $124,in South Australia.
NSW Premier Dominic Perrottet said cost of living measures would be central to next month’s state budget,insisting his government’s energy policy had not failed as families brace for power bills to rise by up to $227.
“Different states have different initiatives and the NSW budget is on June 21 ... we will go through the budget process,as we’re doing actually right at the moment,” he said.
NSW Premier Dominic Perrottet on Thursday.Dean Sewell
Perrottet said rising energy prices were both a national and global issue in a high inflationary environment.
“We are seeing real supply constraints,particularly with thermal coal and gas that is going to put up with prices on wholesale energy. So that is something that we will look at and need to address.”
Perrottet defended his government’s 2020 energy policy,which promised to lower household bills by $130 a year and business by $430 a year by 2023.
“Our energy plan is very well-placed to put down to put downward pressure on energy prices into the future,” he said. “We had a significant focus on the areas that we can control – the network ... There will be downward pressure on prices. Now,that is different to the wholesale price. And when you have global shortages,particularly thermal coal that puts pressure on electricity prices.”
Labor leader Chris Minns earlier said NSW households deserved a rebate equivalent to that announced by Queensland Premier Annastacia Palazcsuk on Thursday. Electricity providers in that state will automatically apply the $175 credit to the next round of all household power bills.
“Businesses in Sydney can expect an increase in their electricity bills from between $690 and $1100 in the next 12 months. For families it will go up between $100-$300 for the typical family electricity bill,” Minns said.
“We need to make sure a rebate is distributed by the NSW government to families and businesses right across the state. Queensland has just done it.”
With Nick Toscano
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