Wholesale electricity costs should rise by less than half of earlier price spike predictions following government intervention in the market.
Updated Treasury forecasts have prices in Queensland coming in at 44 per cent lower than previously expected, while they are predicted to be 38 per cent lower in NSW, 32 per cent lower in South Australia and 29 per cent lower in Victoria.
The government imposed a temporary 12-month price cap on gas at the end of last year to curb runaway prices.
