Energy bosses have warned Aussies could face “a minimum 35%” increase to their electricity bills in 2023 amid steep rises in wholesale power prices thanks to the war in Ukraine and the transition to clean energy. Alinta’s CEO Jeff Dimery told The Financial Review’s Energy and Climate Summit that as the operator of the big Loy Yang B coal-fired power station in Victoria: “What cost me $1 billion to acquire is going to cost me $8 billion to replace, so let’s talk about that and explain to me how energy prices still come down.” Origin’s CEO Frank Calabria agreed, saying the transition to green sources to hit Australia’s emissions reduction targets will be tricky and expensive. Momentum Energy’s Lisa Chiba added that they get times are tough for consumers. Her business is giving ‘compassion fatigue training’ to staff to ensure they can keep looking after customers facing financial difficulties.