Power prices set to rise across Australia with Hazelwood closure

The political fight over electricity prices is set to intensify with a new report warning the closure of the Hazelwood mine will push up power bills. ?

The Australian Energy Market Commission says the coal fired plant’s shutdown, which supplies around four per cent of the National Electricity Market, will see wholesale energy prices jump 36 per cent.

It’s expected the closure will add $78 a year to energy bills nationally.

South Australians will be hit the hardest, with $150 a year set to be added onto household bills, while Victorians will have to fork out an extra $99 dollars.

It comes as energy ministers gather in Melbourne today for a COAG Energy Council meeting.