Soaring energy prices set to impact NSW residents

With many households under increasing financial pressure, the last thing Aussies need to read is news about further energy price hikes.

The cost of living is becoming too much to bear for many people, especially in areas like Sydney, as this is currently one of the world's most expensive cities.

Sadly, residents in New South Wales (NSW) will have to keep digging deep to cover their utility costs, as electricity bills are set to go up by 16 per cent next year – the equivalent of $300.

Experts are blaming the proposed introduction of carbon tax for the sharp increase, which could leave NSW residents with little choice but to raid their savings accounts on a regular basis.

According to the Daily Telegraph, the state government will urge prime minister Julia Gillard to scrap the scheme in order to provide some much needed respite for struggling Aussie households.

"It is unreasonable for federal Labor to expect NSW households to bear the costs of unsustainable and costly green schemes," commented energy minister Chris Hartcher.

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