Power prices will rise by 11.8 per cent in Tasmania after July 1.
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The annual increase was confirmed by the Tasmanian Economic Regulator on Friday after it approved Aurora Energy's new proposed standing offer price.
The annual bill for a residential customer will go up by between $200 and $227.
The average bill for a small business will go up by $176.
Regulator Joe Dimasi said wholesale electricity costs had increased by 37 per cent over the year and accounted for 10.4 per cent of the incoming price increase.
Labor this week had sought to push through a 2.5 per cent power price cap in Parliament to avoid the massive anticipated rise.
This was blocked by the government, which criticised the move as a stunt.
Energy Minister Guy Barnett is set to make an announcement regarding energy costs on Friday morning.
MORE TO COME
Political reporter for Australian Community Media, based in Hobart.
Political reporter for Australian Community Media, based in Hobart.
