Caps on what regulators can charge households and businesses in NSW, South Australia, southeast Queensland and Victoria are refreshed every year.
Default market offers, as they are known, are updated annually to reflect the cost retailers are paying generators for electricity and to have it transported through poles and wires.
Safety net prices differs by region but residential electricity customers from NSW, South Australia and southeast Queensland are on track for price rises of somewhere between 2.5 and 8.9 per cent compared with the last financial year.
Inflation-adjusted annual price increases of between $60 and $140 can be anticipated, depending on the area.
Small business customers could see price gains of between 4.2 and 8.2 per cent.
The Australian Energy Regulator, which sets default prices in those states, said both higher wholesale market and network costs were contributing.
Average wholesale market spot prices increased across 2024, driven by high demand, coal generator and network outages, and low solar and wind output that caused "high price events" in the relevant states.Â
"We've seen cost pressures across nearly every component of the default market offer," AER chair Clare Savage said.
The regulator is expected to finalise the offer in May.
Victorian benchmark prices are set by a separate state-based regulator and residential customers can expect a $12 increase - less than one per cent - averaged across the five regions.
The Essential Services Commission said some customers may actually see their annual prices fall by $19 but others face a $68 hike, depending on location.
Small businesses on the state's default offer are heading towards a three per cent price increase, or $104, on last year.
Only customers who fail to shop around end up on standard offers from their retailers, so hunting for better deals can help households and businesses keep prices down.
Energy bill relief has further been insulating households and businesses from price pain, with speculation the federal government will extend its subsidies in the budget on March 25.
Energy regulators kept default offers fairly stable last financial year, in welcome reprieve following sharp increases in the years prior triggered by Russia's invasion of Ukraine pushing up wholesale prices.
The Australian Council of Social Services says renters, people on income support or living with a disability or chronic medical condition are finding it particularly hard to pay their energy bills.
The council's study, which surveyed more than 1000 people about their energy bills in December and January, found almost two in three Australians (64 per cent) were struggling to pay their bills, even though most from that group had tried to reduce their energy use.
ACOSS called for greater government support to upgrade social housing and provide bill relief.
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