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13 March 2025
The Australian Energy Regulator is increasing Qld default power price cap by about 5% on July 1. This cap helps protect consumers from high prices while ensuring energy companies can cover their costs. Tim explains that power prices are rising because Queensland hasn’t built enough new energy capacity to replace old coal-fired plants. In Queensland, prices are going up by 3-5%, while Victoria’s increase is lower at 1-3%. Consumers can avoid the higher default price by shopping around for better deals, as providers offer discounts to those who switch. However, without more energy projects, prices will keep rising. Tim urges the Queensland government to approve new energy projects to stop further price hikes.