Australian households face upcoming power bill increases

Australian households are preparing for another increase in power bills, with hikes expected between 2% and 9% this year. This follows a 40% rise in energy prices over the past two years, driven by high gas costs and supply issues. The federal government has provided energy rebates to help households cope, but the situation remains challenging. The energy market regulator has raised benchmarks for electricity prices, citing the need for infrastructure improvements to support renewable energy. Gas prices have tripled in the last decade, impacting electricity costs. Despite government interventions, the domestic gas supply remains strained, as exporters prioritize international markets over local needs.