Australian households are likely to face high energy prices until 2026.

That’s one of the findings of new research by consultancy Cornwall Insight which suggests all states in Australia’s National Electricity Market will have an annual median price of around AUD$200 (£115)/MWh, up until the end of the financial year 2025.

According to the report, these high prices are predicted to feed into bills over the next three years – after that point, energy prices are expected to go back to 2021 levels of up to $80 (£46)/MWh across the country.

Looking at the next two decades, up until 2042, New South Wales faces the worst prices, with the median price forecast at $218 (£125)/MWh during the first three years.

Concerns over the implications that the global energy crisis has on countries’ energy supplies have made the analysts raise their estimates for Australian energy market.

Earlier this week, Cornwall Insight consultants predicted that the UK energy price cap could hit more than £4,200.

Article source: https://www.energylivenews.com/2022/08/10/light-at-the-end-of-energy-crisis-tunnel-in-2026-for-australia/