Electricity prices continue to spiral out of control under Labor, with further increases up to 23.7% to hit Australian households and up to 25.4% for small businesses over winter.

Under the draft Default Market Offer, released by the Australian Energy Regulator today, electricity prices in New South Wales, Southeast Queensland and South Australia are set to increase by up to $463 for families and $1151 per year for small businesses. 

Shadow Minister for Climate Change and Energy Ted O’Brien labelled the news as evidence of a ‘broken promise reconfirmed’ that will hurt most those who can afford it least.

“Energy bills have skyrocketed despite Labor’s promise of a $275 reduction and now they are set to soar even higher,” Mr O’Brien said. “It’s further proof that Labor’s energy plan is failing.

“A record high of more than 82,000 households are now on hardship programs, proving that those who can afford it least will be the ones paying the most.

“Winter is on the way and I have grave fears that senior citizens and families doing it tough won’t turn on the heater for fear of their energy bill.

“The human impact of Labor’s failure to manage Australia’s energy market should not be underestimated.”

The price rises revealed in the Default Market Offer will impact over 600,000 homes and around 100,000 small businesses.

Mr O’Brien rejected attempts by the Government to ‘spin this dreadful news into a positive,’ arguing its market interventions will reduce supply and increase prices over the longer term.

“Labor has shown time and time again that it cannot be trusted to reduce energy prices,” Mr O’Brien said.

“It’s disgusting to see Labor patting itself on the back while telling Australians that the energy price shocks will continue to hurt, but it could have been much worse.”

“No Australian deserves to go cold this winter because of Labor’s failing energy plan.”

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