Birch owner Renée Wallace. Source: supplied.
Electricity prices will rise as much as 29% for tens of thousands of small businesses across Australia from July 1, as market regulators confirm major hikes to the base rates offered to energy consumers.
On Thursday, the Australian Energy Regulator (AER) announced its Default Market Offer (DMO), the price cap applied to electricity deals across South Australia, New South Wales and south-east Queensland, will significantly increase in 2023-2024.
Small businesses customers reliant on default offers can expect their annual bills to increase anywhere from 14.7% to 28.9%, depending on their location, the AER said.
SMEs using 10,000kWh of electricity a year on DMO rates can expect their bill to rise by at least $639 a year, the AER said.
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