| Christmas Grinch hits families with $150 extra power whack |
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Article Source: Herald Sun, December 01, 2011 POWER and gas bills will blow out by $100-$150 in a pre-Christmas blow for Victorian families.
Festive Grinch energy giant Origin has announced rises of up to 9.2 per cent for power and up to 6 per cent for gas from January 1. AGL, TRUenergy and smaller retailers are soon expected to confirm similar increases. Welfare groups fear the budget blow, which follows several years of soaring prices for basic utilities, will cause more disconnections. St Vincent de Paul Society's Gavin Dufty expected a typical family would pay $100-$150 a year more for combined electricity and gas in the latest round of retailers' price rises. "The increases will put significant financial pressure on households that will further push them to the edge," he warned. Origin's retail division made a $785 million pre-tax profit for the financial year. Chief Grant King's pay-and-perks package soared 27 per cent to $7.6 million. The tariff increases do not include the carbon tax jolt from July next year. The Federal Government says pension increases and tax breaks will compensate for those increases. Mr Dufty said retailers were passing on soaring multi-billion-dollar distribution costs for transmission and pole line upgrades to cover rising demand. He also blamed the smart meter rollout and government targets for more expensive renewable energy. Origin's electricity rises will bump up annual bills for a typical family by about $103 a year. Gas is up $51 for an average home. Origin retail general manager Phil Craig said the company provided advice to help reduce and manage costs. "We understand that some Victorians are struggling to pay their energy bills," he said. "As a result, we have increased support to these customers via our hardship program, which provides payment plans, energy audits and help to access government assistance." Origin's electricity increases range from 5.6 per cent to 9.2 per cent depending on where you live. Gas will rise 5.7-6 per cent.
Origin chief Grant King's pay-and-perks package soared 27 per cent to $7.6 million. Picture: Herald Sun
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