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Households and small businesses are facing major gas price rises from today as energy retailers pass on double-digit price hikes.
Customers are set to fork out hundreds of more dollars in their gas bills as EnergyAustralia, Origin Energy and AGL raise gas tariffs.
Victoria – the state most reliant on gas – is among the worst affected, with the average price expected to rise by as much as 25 per cent.
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That will add an extra $480 to the yearly bill for Energy Australia Australia customers in the state, $370 per year more for those with Origin Energy and a further $326 per year for AGL customers.
Customers in New South Wales, ACT, Queensland and South Australia can expect increases of less than $100.
The hit to gas bills comes comes as Australians are struggling with rising inflation, higher interest rates and soaring rents.
The federal government and energy suppliers have blamed the Ukraine conflict and global inflation for higher power bills.
Experts say the full impact of gas price hikes for households will vary depending on location and provider, leaving some families with large increases, while others avoid the worst rises to their bills.
Comparison firm iSelect said most households won't see the full impact on their gas prices until winter.
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"Aussie customers facing gas prices rises due to kick in from February 1 probably won't experience the full effect of the hike until the winter months, when many of us are typically churning through gas for heating," spokesperson Sarah Ryan said.
She said families should shop around for the best deals on the market, and take steps to make their homes more energy efficient.
"Consider switching to energy-efficient lighting such as LEDs. They tend to use around 80 per cent less energy than regular halogen bulbs, while using well-fitted and heavy curtains or blinds to trap your desired indoor temperature can also help."
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Source: 9News
