AGL has announced standing offer electricity prices in South Australia will increase 18 per cent in the 2017-18 financial year, while they will increase 16.1 per cent in New South Wales.
The announcement comes after an almost 19 per cent increase was announced for the regulated ACT electricity market.
South Australian Minister for Energy, Tom Koutsantonis, said the announcement from AGL emphasises the urgent need for action from the Federal Government to implement a market mechanism that drives new investment in electricity generation.
“These steep price increases announced by AGL emphasise exactly why Australians desperately need the Federal Government to act on energy policy,” Mr Koutsantonis said.
“There is a difference of $900 between the best and worse offers in the market – AGL customers should consider picking up the phone and changing retailers.
“The Finkel Review was released, calling for the implementation of a market mechanism that drives new investment in electricity generation in the system, to increase both energy security and competition between participants.
“Those calls have been echoed by every major industry and business group in the country. Now is the time for action from the Federal Government to fix the broken National Electricity Market.”
