Anger as energy firms bump up prices again

Energy customers have reacted angrily after it was revealed that power companies in Victoria have been given the go-ahead to raise prices yet again.

With the average bill soaring by $300 over the past two years, many people in the state have already been forced to dip into their savings accounts in order to cover their costs, the Herald Sun reports.

The area's five main suppliers – Jemena, CitiPower, Powercor, United Energy and SP AusNet – had argued that a decision to grant them permission to charge an extra $7.4 billion was insufficient and regulators have now enabled them to increase this figure by $300 million over a three-year period.

Consumer groups are also concerned that plans to rollout smart meters across Australia could hit people in the pocket too.

Energy expert at the Consumer Action Law Centre Janine Rayner told the news provider that laws need to be changed to prevent the heavyweight companies from exploiting customers.

Earlier this month, the same news provider reported how Jemena and United Energy were cleared to hike their bills by a total of $130 million between 2013 and 2015.

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