New 9% power bill shock

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A shock unless you read MB that is. The Australian.

Electricity bills will rise by as much as 9 per cent from July 1, the Australian Energy Regulator has declared.

The AER said increases will vary across the National Electricity Market, but the largest jump will be seen in NSW, where prices are set to rise by up to 9 per cent. Increases are smaller in Queensland and South Australia, but prices will rise by between 3 per cent and 6 per cent.

Small business customers face prices increases of between 4.2 per cent and 8.2 per cent.

5-10% as expected.

It is very, very simple.

Kill the gas cartel or it will you.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.