Prepare for a shock if you live on Australia’s east coast and you’re on a ‘default market offer‘ with your electricity provider. To explain… Electricity retailers can offer special deals, and some bundle your electricity bill with your gas, for example. That requires consumers to do some research and even (gasp…) get on the phone to talk it through. About 10% of households and small businesses haven’t done that and are paying the default market offer, which is a price that’s capped by the Australian Energy Regulator. Yesterday, it detailed those prices for the next financial year with an average jump of 14%/$227 in NSW, 11%/$165 in Queensland, and 7%/$124 in South Australia. Victoria has a different process – its authority has outlined a 5%/$61 price rise. The reason it’s on the up? The price of coal is sky-high, and it’s what powers about 60% of our electricity generation – and the floods haven’t helped. The experts’ advice is to shop around for the best deal.