April 23, 2013, 10:46 a.m.
GAS prices in Newcastle are set to rise 9.2 per cent, or by $76 a year for average household bills, under a draft pricing tribunal determination.
The increase to AGL's prices would take effect from July 1.
Electricity prices for EnergyAustralia customers will also rise, by 4.3 per cent or an extra $83 a year for average households.
Despite the increase, Independent Pricing and Regulatory Tribunal chairman, Dr Peter Boxall said electricity prices had moderated as a result of lower network price increases.
However, rising network costs were the biggest factor behind recent gas price rises and "action is required to address policy settings that are leading to higher than necessary gas network prices", Dr Boxall said.
The AGL price hike is above the state average increase in gas prices of 8.6 per cent for 2013-14, recommended by the tribunal.
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