gas prices set to surge in nsw

Gas prices set to surge in NSW

ABC – 7 hours ago

Gas companies in New South Wales are proposing to increase their prices by as much as 10.4 per cent next year.

The pricing regulator is assessing the individual retailers' proposals and calling for public feedback.

AGL has proposed a 10.4 per cent increase for its customers in Sydney, the Hunter, and the Illawarra, while Origin
Energy wants to put up its prices by between 4.4 and 6.1 per cent.

The retailers are arguing that they face considerable uncertainty about wholesale gas costs and the costs of complying with carbon pricing.

The chairman of the Independent Pricing and Regulatory Tribunal (IPART) Peter Boxall says the proposed price increases are a little more than last year.

"I might say that while electricity prices have risen steeply over the past six years or so, increases in gas have been relatively modest," he observed.

"But we're more likely to have an increase in the network costs for gas over the next three years." A due to an increase in exports from Australia's east coast.

IPART will hold a public hearing into regulated retail gas prices in the state on December 3.

The tribunal will make a draft determination on the price proposals in March.