Treasurer warns electricity prices will continue to rise

Australians have been warned to brace for energy price hikes of up to 20 per cent.

Treasury modelling has suggested extreme weather events, the war in Ukraine and the global outlook continue to increase the cost of electricity.

Treasurer Jim Chalmers says he’s been up front with the Australian people on expecting to pay more for power.

“We are expecting substantial increases in power costs, Australians know that and will be expecting it.

“A big part of our inflation increase will be electricity prices.”

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Photo: Getty