Consumers are being warned not to expect big price falls when regulators announce draft changes to benchmark power prices.The Australia and Energy Regulator and its Victorian counterpart are set to hand down their draft decisions tomorrow.The single father pays the mortgage and all the bills for his house at Worrigee in Shoalhaven on the south coast of New South Wales."You're always on the lookout for the best deal," Mr Souter says."Because I had two boys living at home.
"I pay my own mortgage on my own. I pay all my own bills here, like electricity, insurance… everything.Through a spokesman, Origin Energy said Craig Souter's bill had risen because of increased usage, the underestimation of a previous invoice and a new, more expensive plan. Known as default market offers, the prices are effectively a maximum rate retailers can charge their customers.
At the same time, he says rising interest rates and inflation are pushing up network costs — that is, the poles and wires — which typically account for the biggest share of a power bill.Crucially, Mr Stabler says the regulators are required to factor in expected future wholesale power prices when setting benchmark tariffs for the coming year.
"Broadly speaking, we're not anticipating huge movements in either direction," Mr Oliver said at the time.Energy Consumers Australia, which represents residential and small business users, says the worst of the price rises appears to be over even if challenges remain in the market.