More Pain to Come For Victorians with Gas and Power Bills – ConspiracyOz

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Electricity and gas bill pain is coming in the new year.

ANNUAL household gas and electricity bills are set to surge by up to $250 from January 1.

Victorian homes and small businesses will be slugged with average price rises at least twice the inflation rate, and some at almost five times the CPI.

Savings from the axed carbon tax will be substantially eroded, and in some cases eradicated.

Major retailers have revealed gas charges, which are rising dramatically as domestic prices are linked to the international market, will climb 5.5 to 10 per cent.

Average power increases range from 3.8 to 9.7 per cent, depending on the company and customer location.

EnergyAustralia, AGL and Powerdirect are mainly blaming electricity distribution and wholesale gas costs for their announced rate changes.

St Vincent de Paul Society energy analyst Gavin Dufty­ estimated combined gas and electricity annual costs would rise $150 to $250 for a typical “dual-fuel” home.

All-electric houses faced a rise of $100 to $230.

“Make the most of Christmas. If you thought the days of high energy costs had ended, that’s not the case,” Mr Dufty said.

The changes are for default tariffs, known as “standing offers”. These are usually the most expensive on the market.

Most Victorians are on discounted “market offers”, but Mr Dufty said they could expect similar percentage increases in the new year.

AGL estimated an overall residential average $83.20 rise for gas and $67.60 for electricity. EnergyAustralia, which confirmed market offers will also change on January 1, put its average impost at $93.60 for electricity and $89.44 for gas.

EnergyAustralia sales and marketing general manager Michelle Monaghan said: “About 90 per cent of the electricity price increase is made up of network, transmission and metering costs that distribution companies pass on to consumers through retail bills.

“The higher cost of buying gas for our customers has significantly contributed to the increase in gas prices.”

AGL explained its gas hike on “an allowance for a reasonable rate of return necessary to manage risks associated with supplying gas to our customers, and the increasing wholesale cost”.

Mr Dufty urged consumers to review all retailers’ revised prices and to shop around.

More Links – Mick Raven

EnergyAustralia – Wikipedia

CLP Group – Wikipedia

Electricity Victoria | Compare Energy Companies in Victoria Australia

AusNet Services – Wikipedia

Jemena – Wikipedia

Powercor Australia – Wikipedia

United Energy and Multinet Gas

Spark Infrastructure – Wikipedia

State Grid Corporation of China – Wikipedia

Cheung Kong Infrastructure Holdings – Wikipedia

DUET Group

DUET | Annual Report 2014
Twenty Largest Investors
HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED
NATIONAL NOMINEES LIMITED

J P MORGAN NOMINEES AUSTRALIA LIMITED

CITICORP NOMINEES PTY LIMITED
BNP PARIBAS NOMS PTY LTD
AMP LIFE LIMITED
UBS WEALTH MANAGEMENT AUSTRALIA NOMINEES PTY LTD
RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED
ARGO INVESTMENTS LIMITED
CITICORP NOMINEES PTY LIMITED
QUESTOR FINANCIAL SERVICES LIMITED
RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED
NAVIGATOR AUSTRALIA LTD
SELLERS HOLDINGS PTY LIMITED
BKI INVESTMENT COMPANY LIMITED
SANDHURST TRUSTEES LTD
RBC INVESTOR SERVICES AUSTRALIA NOMINEES PTY LIMITED
EDSGEAR PTY LTD
AUSTRALIAN EXECUTOR TRUSTEES LIMITED
BAINPRO NOMINEES PTY LIMITED
Total: Top 20 holders
997,787,714
75.15
Substantial Stapled Securityholders
Lazard Asset Management Pacific Co
AMP Limited
Deutsche Bank AG & Spark Infrastructure
Total Remaining Holders Balance
329,931,730
24.85
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Posted on April 13, 2015, in ConspiracyOz Posts and tagged , . Bookmark the permalink. Leave a comment.

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