EnergyAustralia today confirmed that gas prices for Victorian residential and business customers on Variable Market Contracts will increase by an average of 27.3% on 1 February 2023, following significant increases in the wholesale cost of gas.
Prices for EnergyAustralia gas customers in Victoria on Variable Market Contracts will rise by an average of 26.7% (around $480 per year, including GST) for around 245,000 residential customers and will increase by an average of 35.7% for about 4,000 business customers. The changes take effect on 1 February 2023.
EnergyAustralia Chief Customer Officer Mark Brownfield said: “We know the news of higher prices will not be easy for our customers however a perfect storm of factors in 2022, including the war in Ukraine and extreme weather events, pushed up wholesale gas prices.
“Recent government actions are focussed on the wholesale gas price for future contracts. We supply customers from our existing wholesale gas contracts, some of which were contracted during 2022.
“EnergyAustralia recognises that some customers may be struggling. Our message is that we’re here to offer support. If any of our customers believe they will be unable to meet their energy costs because of this increase, we can help through payment plans, extensions, a staying-connected guarantee and access to cashflow assistance for small businesses. If you are an EnergyAustralia customer facing difficulty paying your next bill, please get in touch with us as early as possible so we can help,” Mr Brownfield said.
Victorian Gas Variable Market Contracts Increase Key Points
* The government green scheme contributing to the Victorian Gas Variable Market Contract price increase is the Victorian State Government’s VEU (Victorian Energy Upgrade) program, previously known as the VEET (Victorian Energy Efficiency Target) scheme.