Households in the Parkes electorate are burdened with another year of unaffordable energy costs as the new financial year’s electricity prices start applying from this week.

The new prices confirm that Labor has broken its promise to reduce household power bills by $275, with Australians instead paying among the most expensive power bills in the world.

The Australian Energy Regulator (AER) is responsible for setting what’s known as the ‘reference price’ for electricity which signifies the cost of an average Australian energy bill.

The new prices announced by the AER for the 2024-25 financial year reveal that residents in New South Wales will pay up to $1,062 (39 per cent) more than Labor promised.

Federal Member for Parkes Mark Coulton said families in the Parkes electorate are struggling to pay their energy bills because of Labor’s renewables-only energy policy.

“Every household in the Parkes electorate is suffering under skyrocketing energy costs,” Mr Coulton said.

“Prices are up and families are being forced onto hardship arrangements just to keep the lights on and their homes warm this winter.

“Even after spending $6.5 billion of taxpayers’ money to mop up its failed energy policy, Labor is still not even close to achieving its promise of a $275 reduction in power bills.”