Australian Power Bills Set to Fall, Easing Strains on Households
Article content(Bloomberg) — Energy bills for Australian households and small businesses may fall from July, in a fillip for the government that has been trying to relieve cost-of-living pressures driven by elevated inflation and high interest rates. The maximum price electricity providers can charge residential customers will decline as much as 7.1%, the Australian Energy Regulator said in a draft determination Tuesday. The changes are subject to consultation and stakeholder feedback, with a final decision due in May.Article contentEnergy bills soared in Australia after international prices for coal — which still provides most of the nation’s electricity — surged in the wake of Russia’s invasion of Ukraine in 2022. The government has since capped domestic gas and coal prices, pledged b...