In their currently-running determination for retail gas prices, IPART has received proposed price increases of 20% from gas retailers AGL and Origin. (The Independent Pricing and Regulatory Tribunal, IPART, is the body that regulates energy prices in New South Wales.) Other states are expected to face similar price rises.
A 20% rise in prices over a single year is significant, and unlike electricity price rises in recent years it has little to do with network investment. Here’s what’s going on, from the ground up (if you’ll excuse the pun):