Power prices tipped to rise by 50 per cent

Retail electricity prices are expected by rise by 50 per cent over the next two years. (Russell Freeman/AAP PHOTOS) (AAP)

Retail electricity prices are expected by rise by 50 per cent over the next two years, dealing households and businesses another cost-of-living blow.

Treasury has assumed in the federal budget that retail power prices will increase by an average of 20 per cent nationally in late 2022, and a further 30 per cent in 2023/24.