Australian energy regulator all set to increase prices this week

The Australian Energy Regulator will release its interim decision on Wednesday, where it’s expected to increase the maximum retail electricity fee for homes and small businesses in NSW, South Australia and southern Queensland.

The Australian Council of Social Services (ACOSS) is calling on the government to help less-privileged people by wiping off their energy debt.

It wants the government to provide an emergency payment of up to $2,000 to help people in energy hardship.

Climate and energy program director Kellie Caught told ACM another 20 per cent increase in energy bills could be catastrophic for low earners.

Last year, ACOSS conducted a survey which revealed 70 per cent of low-income earners were no longer using heating, and 46 per cent were going to bed early to keep warm.

Ninety per cent of people in the survey said their inability to warm and cool their homes was making them sick and 30 per cent had needed medical care as a result.

Business NSW’s senior director of regions and visitor economy Paula Martin was concerned about the impact of rising energy costs.

She said more than one quarter of businesses have said they will shut down if conditions don’t change.

“For 28 per cent of businesses to tell us they’re considering closing their doors in the next three months, I think that’s really scary, and we haven’t faced a situation like that for a very long time,” she said.

Even if businesses manage to stay open, there could still be a big impact on jobs.

According to Ms Martin, about 30 per cent of businesses across NSW predicted they would have to reduce the size of their workforce.