Let's live like Thomas Edison never existed

Turn off the lights, turn on the candles. Let's make living-in-the-1700s-core a vibe.

Turn off the lights, turn on the candles. Let's make living-in-the-1700s-core a thing.

Renters, owners, beware. Your power bill is going to become hundreds of dollars more expensive.

2o22. The year of the tiger, the Queen's Platinum Jubilee and the phrase "Your [insert produce or service] is going up".

Now, on Thursday, the Australian Energy Regulator (AER) announced increases of up to 18% on standing electricity offers from July 1.

With these sizeable rate hikes, the AER are putting a price cap on what retailers can charge customers who have not shopped around for a better energy deal. 

The rise has been sparked by rising fuel costs and surging wholesale power prices over the last year. In late April, the National Electricity Market said wholesale prices increased by more than 140% in 12 months to March 31.

And, the AER says these wholesale power prices might keep rising in NSW and Queensland for two more years.

ACCI chief executive Andrew McKellar said increasing energy costs would also impact business severely, and us consumers will be paying for it.

"Energy intensive sectors, such as manufacturing, will be harshly affected by rising electricity and gas prices while petrol prices, which have jumped up again to over $2 a litre, are driving up freight and input costs," he said.

You know how it goes by now - they will be passing these costs on to us. 

"With material and labour shortages at their most acute in almost 50 years, the increased cost of doing business is beginning to bite."

⚡ How much will my power bill increase from July 1?

• NSW - $119-227 more than last year (8.5 to 18.3%)
• Southeast QLD - $165 more for than last year (11.3-12.6%)
• SA - $124 more than last year (7.2 to 9.5%)
• VIC - $61 more on average for 2022-23 (5% increase for standing offers, announced on Tuesday by the Essential Services Commission)
• WA - 2.5% for 2022-23

🔌 How much will power cost annually from July 1?

• NSW - $1512 to $2092
• Southeast QLD - $1620 (with an 11.3% hike)
• SA - $1840 (with a 7.2% hike)
• VIC - $1403 on average
• WA - $1043 on average

⚡How much does power cost now, on average?

• NSW - $1415.2
• VIC - $1278
• QLD - $1250.8
• SA - $1533.2
• WA - $1017.6

(From Finder, May 2022.)

🔌 How much does power cost now, on average, across generations?

• Gen Z power bill: $1440
• Gen Y power bill: $1376
• Gen X power bill: $1404
• Baby boomers power bill: $1132

(From Finder, May 2022.)

⚡Government relief programs 

• Earlier this month, the McGowan Government announced a $400 household electricity credit for all residential households
• On Thursday, Premier Annastacia Palaszczuk announced a $175 cost of living rebate for Queenslanders