Hard on the heels of Sydney's water rates rising by 20 per cent, household electricity prices are to increase by 8.5 per cent from July 1 - more than double the rate of inflation. 

The rise will maintain the profitability of the electricity retailers – Energy Australia and Integral Energy - as the State Government moves to sell them. 

In allowing the price rise, the Independent Pricing and Regulatory Tribunal said average household power bills would rise between $1.40 and $1.70 a week, or almost $90 a year. 

$90 Bill Ahead Of Power Sell-Off