Default market offer to rise by as much as 9.7% from July 1

ABC NEWS (Australia)

Australia's Energy Regulator has confirmed the default market offer will rise by as much as 9.7 per cent from July the first.  New South Wales customers will be the hardest hit, but electricity prices will also rise in South Australia and south-east Queensland.

Transcript

00:00This is not the news that many wanted to hear as we head towards winter.

00:07The Australian Energy Regulator has released its default market offer for 2025-26.

00:14That's essentially the benchmark for residential and small business electricity prices across

00:22New South Wales, South East Queensland and South Australia.

00:26Delving into some of those figures, New South Wales is looking like the hardest hit with

00:31an increase of up to 9.7%.

00:35Then looking at South East Queensland, a hike of 3.7%.

00:40And finally, South Australia, an increase of 3.2%.

00:45Now, these increases don't come into effect until July 1st.

00:50And it's important to note that not everyone will be impacted by them.

00:56And they are also a worst case scenario.

00:59So consumers are being encouraged to shop around and try to find a better deal.

01:06Meanwhile, Energy Minister Chris Bowen has released a statement today saying that the figures released

01:13are actually lower in some regions than a draft that was released in March.

01:19However, he says the government is fully aware that any increase to electricity prices is

01:26going to put pressure on people who are already struggling financially at the moment.

01:30Now, on another issue, it seems a lifetime ago there was that election and there's still

01:35some consternation about the results in some seats.

01:39There's one, what can you tell us about one seat in Melbourne?

01:43Yes, that's right.

01:44The electoral count drama does continue with the Australian Electoral Commission announcing

01:52that it will do a partial recount in the electorate of, the Victorian electorate of Goldstein.

01:58That's been a really tough battle between Liberal candidate Tim Wilson and Independent MP Zoe Daniel.

02:07The partial recount will involve informal ballots and first preferences.

02:13The AEC announcing that it won't conduct a full recount because that would also include

02:19repeating the distribution of preferences, which has already been completed.

02:24And it puts Tim Wilson ahead by 260 votes.

02:29Here's what AEC spokesperson Evan Keane-Smythe had to say about why a recount is happening.

02:36Given there was a little bit of movement in the late part of that full distribution of preferences,

02:41we think it's fair enough to absolutely do a recheck of the first preferences for those top

02:45two candidates as well.

02:47That distribution of preferences is really thorough.

02:50We're just making sure that we're being really thorough and diligent in everything that we do.

02:55The partial recount will start on Wednesday and it's expected to take four days.

03:01Jo?

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