56% spike in power bills forecast in the Governments Budget

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A 56% spike in power bills is forecast by the Australian Government in their most resent Budget, and at the same time, “Off Grid Sustainability” to ease the power crisis and bill burden is forecast by environmental groups as the most credible solution.

Australian Treasurer Jim Chalmers and Prime Minister Anthony Albanese have begun the task of delivering their first budget.

Treasurer Jim Chalmers has fended off calls for cash payments to households such as the energy rebates underway in the United Kingdom but said tougher regulation was being considered.

Albanese amplified that message on Wednesday morning in a way that raises expectations for federal cabinet decisions on electricity and gas supply.

The budget forecast a 20% increase in retail electricity prices on average nationwide in late 2022 and a 20% increase in retail gas prices this financial year. The price hikes are already proceeding, and the government is short on options in stopping them from going ahead.

The budget also forecast a further 30% increase in retail electricity prices on average nationwide in the year to June 2024 and a further 20% increase in retail gas prices in the same year.

This means, the electricity increase would be 56% over two years while the gas increase would be 44% over two years, but the government could intervene before the full impact is realised.

Solutions include utilising the abundance of off-grid technology available, reducing our carbon footprint, living independently without the headache of hefty electricity bills, and giving everyone the lifestyle, they deserve with clean clear answers and sustainability and off grid living.