Port Macquarie’s Maloney Lighting store manager said he had always been aware of staying smart when it came to saving power.

“The price rise is certainly a concern, but because we use low-energy light bulbs for all our displays and have a solar panel installed on our roof, we’re very careful when it comes to electricity use,” Les Maloney said.

LED lighting is the way of the future, according to Mr Maloney, because it uses less power, has a long lamp life and produces a lower level of heat.

Independent MP Rob Oakeshott said the 18.1 per cent increase was ridiculous, adding this brought the cumulative price rises since 2007 to more than 76 per cent.

“This latest price rise again highlights the failures in the existing regulatory system, and is delivering to NSW consumers the steepest electricity price rises in NSW history,” the member for Lyne said.

“Those who attended Professor Ross Garnaut’s public forums at Port Macquarie and Taree [last] week were given an insight into these market failures in state-controlled monopolies.

“The truth is that failing regulation of the network and transmission infrastructure, the so-called poles and wires, have been the offenders, particularly in NSW.”

The Independent Pricing and Regulatory Tribunal (IPART) estimated the average business would pay an extra $307 to $528 a year.

An average household would pay between $216 and $316 extra per year, but costs will vary depending on how much electricity is used.