QLD power price hikes to hit July 1

Energy prices surge image

News has hit today that electricity prices in Queensland will increase by 22.6% from 1st July 2013. This will lift the average household's bill by more than $260 per year.

The Queensland government had previously said this was an unacceptable increase, but this week announced that it won't be introducing an electricity rebate to offset the price hike.

The Queensland Competition Authority boss Malcolm Roberts has stated that the price of electricity must reflect the cost of producing it, yet other commentators such as Nick Behrens, from the Chamber of Commerce and Industry Queensland, have said that too much is being spent on upgrading poles and wires, when the focus should be on reducing power bills.

Queensland businesses and farmers are particularly alarmed, with canegrowers saying the growing cost of running irrigation is threatening the future of irrigated farming in Australia. Small businesses are also set to feel the pinch.

With power prices continuing to rise, cushion the blow by switching to a solar power system covering part or all of your electricity needs. Chat to a Beacon Solar expert about solar power options for your home or business, or get an instant estimate today. 

Read full articles on the price hikes here at Nine News Finance and The Age

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