Retail electricity prices are expected to jump by up to 10 per cent on July 1, following a surge in wholesale prices in the past year. This is despite claims from the Coalition and Labor that prices are going to stay low or fall after the May 21 election.

Prime Minister Scott Morrison and Labor leader Anthony Albanese are targeting cost of living pressures during the election campaign. But energy experts said the idea power prices were going to fall after the election was disingenuous.