Power and gas prices could stay high for years to come, in further pain for Australian consumers already feeling the pinch of rising cost-of-living pressures.

The Australian Energy Regulator released another worrying forecast in its quarterly markets report, saying electricity and gas prices reached record highs in June and July, and it could stay high for some time.

Australian Energy Council’s chief executive Sarah McNamara said prices peaked midway through 2022.

“There is some relief on the way but we should expect there to be ongoing upward pressure on prices,” she told Neil Breen on Brisbane Live.

She advises people to check in with their retailers each year to get the best deal.

In the UK, the government is considering intervening in the looming winter energy crisis amid surging prices, by freezing power bills.

But Ms McNamara said she didn’t expect that to happen here.

“We don’t have nearly the kind of dramatic situation here, that’s happening in the UK.”

Press PLAY below to hear her explain more

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