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Electricity costs to climb by hundreds of dollars as Origin, AGL and EnergyAustralia confirm increases for millions of homes
Millions of Australian households will be hit with higher electricity bills from July 1, as the country's three largest power retailers - Origin, AGL and EnergyAustralia - introduce widespread price increases that could see some families paying up to $300 more a year.
This wave of price hikes spans all three energy giants and will affect households across New South Wales, Queensland, South Australia, Victoria and the ACT.
It marks another blow to consumers already under pressure from the rising cost of living and comes as the federal government continues to roll out energy bill relief in a bid to soften the financial shock.
For many customers, New South Wales will bear the brunt.
AGL, the nation's second-largest electricity retailer, has confirmed it will raise prices in NSW by 13.5 per cent, which translates to an average annual increase of $267. But some customers with higher usage will see their bills rise by as much as $300.
In South Australia, the increase will be 7.8 per cent or around $200 per year, while Queensland households face a 7.5 per cent rise, adding roughly $155 to annual costs.
Victorians will see an increase of 6.8 per cent, or about $110 more each year.
Origin, the country's largest retailer, will raise prices by an average of 9.1 per cent in NSW, pushing annual bills up by around $216.
South Australians will pay an extra $122, while Queensland households are set for a rise of $72.
In Victoria, Origin has yet to finalise its electricity pricing, but gas customers have already been told to expect an $85 increase per year.
EnergyAustralia, the third-largest retailer, is also lifting prices. Its NSW customers will see bills rise by 8.7 per cent - an increase of about $215 annually.
For Victorians, the increase is smaller at 2.3 per cent or $47, while Queenslanders will pay an extra $53 and South Australians an additional $73 per year.
Households in the ACT will be hit with one of the sharpest jumps: an 11.6 per cent rise, equating to a $231 annual increase.
These price hikes come into effect on July 1 in most states, though in Victoria and the ACT, changes won't take effect until August 1.
The increases are being driven by higher network charges, increased wholesale electricity costs and rising expenses associated with servicing customers - factors the retailers say are largely beyond their control.
AGL said in a statement that it remains committed to helping customers manage cost-of-living pressures.
'AGL is committed to supporting customers experiencing cost-of-living pressures with $85m of the $90m FY24 and FY25 Customer Support Package delivered to date, and we will continue to deliver programs to support our customers over the next 12 months,' a spokesperson said.
Origin's head of retail, John Briskin, urged customers to take advantage of tools to monitor their usage and explore available discounts, noting there are "simple ways customers can take control of their energy and potentially save - check you're on the best plan, use the Origin app to track your usage, and take advantage of benefits like discounts on fuel and other everyday expenses.'
With the regulator having recently approved increases to benchmark electricity prices, the broader market has followed suit.
Although only about 10 per cent of households are on these standard offers, they serve as a pricing reference for other plans, meaning changes to the benchmark usually have a ripple effect across all retailers.
The increases follow two years of rising bills across most of the country, with average annual electricity costs up by as much as $360 since June 2023.
And while the federal government has extended its energy bill relief programme until the end of the year, including a $75 quarterly rebate that begins from July 1, for many households the government assistance will fall well short of covering the full impact of the hikes.
