Why Victorians could see a sharp increase in their electricity bill

An energy specialist says Victorian households could see their electricity bill rise by around 30 per cent if the increase in wholesale prices is passed on.

It comes as the Russia-Ukraine war continues to push up the price of fossil fuels worldwide.

Gavin Duffy says the price hike could happen as households renew electricity contracts.

“Most Victorians households are probably on a 12 month fixed-term contract, so for those that have just re-contracted … (they’re) sweet for the next 12 months,” he said on 3AW Mornings.

“For those that are starting to roll off their contract, say post June-July, you might start to see those price increases trickle through then.

“So it won’t wash through straight away, there’s a bit of a lag.”

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