IT’S not good news for NSW householders who face gas price rises of up to 17.6 per cent from July 1.
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The rise will amount to an extra $150 to $224 on average annual gas bills.
The Independent Pricing and Regulatory Tribunal says gas prices in NSW have already risen by about 40 per cent since 2006, putting further pressure on households that have borne electricity price rises of 80 per cent during the same period.
The gas price rises now go to public consultation before they are confirmed in June. They apply to households on regulated tariffs, about 25 per cent of the state.
But the tribunal warns those on unregulated tariffs also face significant price rises, driven by higher wholesale costs.
Those rises are also expected to impact on small business.
Gas export facilities have continued to grow on the nation’s eastern seaboard, allowing Australian gas producers to sell liquid natural gas overseas at a higher price.
But the cost to the domestic market is rising wholesale costs, and subsequently, higher gas prices at home.
The tribunal must expect householders will be unhappy with this situation when it consults with the public.