Published: December 01, 2008 - 10:38 AM
As reported in The Age Victorian electricity suppliers are set to raise electricity prices on 1 January 2009 after the state government removed the final price cap protection for consumers.
The Victorian electricity and gas market will now be the first in Australia to have a fully competitive system.
The market will now rely on full price disclosure which will allow consumers to more easily make an electricity company comparison and compare electricity suppliers in Melbourne or regional Victoria.
Electricity prices may rise between 7% and 9%.
Origin Energy have assured customers that the price increases to come in on 1 January 2009 will be lower than this years 13% electricity price increase.
Spokeswoman for Origin Energy Michelle Hundson said "On average, the price increases will be lower,"
"They will vary across customer groups but on average they will be lower."
AGL would not comment to The Age on whether they would be increasing prices. Other electricity companies including TRUEnergy, Red Energy, Click Energy, Country Energy, Neighbourhood Energy and Australian Power & Gas may also increase their prices but have not been reached for comment.
Alison Walter of ShopAround.com.au said "With the Victorian electricity market moving to full competition, it is now more important than ever that consumers take the opportunity to shop around and compare electricity suppliers. The Government believes the market is mature enough to ensure consumers get a fair deal through full competition. The responsibility is now in consumers hands to ensure that their Victorian electricity company is giving them the cheapest electricity price."
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