Canberrans could pay up to $195 more per year for their electricity.

The ACT economic regulator on Monday approved an increase of up to 11.95% in charges that can be passed on to customers in the Territory.

Operator of the Capital’s energy network, Evo Energy, blamed the increase in prices due to a larger increase in network costs.

The company says two factors have increased its operating costs by more than 36% – the biggest being the ACT Government’s large-scale feed in tariffs.

As a result, if prices were to increase to the maximum percentage allowed, the average Canberra household will be paying on average $3.76 more per week.

For an average small business consuming 25,000kWh per year, the bill increase will be $14.45 per week.

The approved increase to electricity pricing comes into effect from 1 July 2021.