Electricity prices on the rise in Victoria?

Victorian households may wish to keep track of the power price increases recorded over the last five years.

A report released September 20 reveals that on average, electricity prices have risen between 10 - 12 per cent across the state.

The Energy Retailers Comparative Performance Report examines the cost of power in the period from July 1 2011 to June 30 2012.

This report highlights the importance of comparing energy prices to ensure customers are getting the best deal available on the market.

Consumers should be aware that the increase in charges has not accounted for the carbon pricing changes.

This may be a timely reminder for homeowners to reassess their current electricity supplier and to check out what other providers may be able to offer them.

The Essential Services Commission report shows that retail electricity prices for residential customers on default contracts, or standing offers, increased by an average of 10 per cent, whereas the charges for other consumers on different contracts increased by an average 12 per cent.

The report shows that both residential and business customers should endeavour to check out the competitive offers available from each of the energy retailers in Victoria.