The retailers have confirmed their increases will raise prices on variable rate deals in South Australia, New South Wales and Queensland on July 1, and in Victoria on August 1.

The average price increase for AGL is $565 (29.8 per cent) in South Australia, $540 in NSW (29.7 per cent) and $447 in Queensland and Victoria.

For Origin, electricity prices will rise $405 (24.2 per cent) in South Australia, $361 for Victorians (25.5 per cent), $347 (21.6 per cent) across Queensland and $407 (21.1 per cent) in NSW.

These enormous price increases that come just weeks after regulators unveiled double-digit price hikes for default market offers, are being blamed on higher wholesale costs – namely coal and gas.

An array of factors from the Ukraine war to outages at local power stations have led to the price hikes.

But federal government intervention in the energy market earlier this year has helped take the sting out of the increases for the hardest hit.

Billions in subsidies

Billions of dollars worth of energy bill subsidies have been made available to households that access federal income support, while the Victorian government is offering grants to those who compare their plan.

There are also hopeful signs on the horizon, with wholesale electricity prices falling from their 2022 peaks in recent months, suggesting price hikes next year could be much lower.

That’s cold comfort for families dealing with bill increases right now, especially when other essentials like rent and mortgage repayments are rising rapidly.

Jon Briskin, head of retail at Origin, encouraged consumers struggling with the price increases to reach out for hardship support, saying those without the capacity to pay could be helped.

“There is a range of support available for customers in our Power On hardship program including flexible payment plans, tailored debt management, energy efficiency advice, access to government grants and concessions, and referrals to financial counsellors,” he said.

“I strongly encourage anyone who is having trouble paying their energy bills to reach out today so we can help.”

With prices rising across the electricity market, Australians are being encouraged to compare their power deal to ensure they’re getting the best price available in their area.

The best place to do this is government-run comparison services.

The federal Energy Made Easy website can compare plans for customers in South Australia.

You’ll need copies of your recent bills and also an idea of the electricity needs around your household; the websites will then use that data to compare prices across every provider.