Energy retailers are expanding their hardship programs, acutely aware their soon-to-be-announced price hikes – speculated to be as much as 30 per cent – could tip more electricity costs over the edge.
|About 25,000 electricity customers in NSW are on hardship programs.|
EnergyAustralia has committed to a one-off $10 million injection into its hardship program, which usually runs at $1.5 million each year, saying that prices won't be easing and it needed to be prepared to help customers through the "difficult times" ahead.
While she couldn't talk specifics about the upcoming price hikes, managing director Catherine Tanna said it had to pass on the ballooning wholesale electricity costs.
"It's very complex, but wholesale prices have roughly doubled in the past year and they make up 25 per cent of the customers' energy bill, and it's one big reason, but there are many," she said.
Read Esther Han’s story in The Sydney Morning Herald - “EnergyAustralia expands hardship program as retailers prepare price hikes.”