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ABC News
ABC News
Business
By Dannielle Maguire and Nicholas McElroy

YOU WONT BELIEVE: How much are power prices increasing by why are they going up what can i do to save on electricity - You Need To See This

Senior business correspondent Peter Ryan explains what the national regulator's default market offer means for consumers.

Late last month, a major energy regulator signalled Australians would be seeing significant hikes in their power bills from July 1.

The regulator updated something called its default market offer, which is essentially a cap on how much electricity retailers can charge customers. 

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