Queensland's wholesale electricity prices reach $10,000 per mWh.

The price limit, set by the Australian Competition and Consumer Commission was hit as a result of high demand on the National Electricity Market.

The $10,000 limit which was reached for the cost of electricity in Queensland been supplied into the National Grid. Rising temperatures and increased power use are said to be the cause for the high demand.

Switchselect.com's Steven Glover said that although this price rise directly effects the wholesale market there is every possibility that if prices continue to soar, eventually retail customers will see the effects.

There has never been a better time to compare energy prices in Queensland. Customers must be aware of the cost of electricity especially at this time of the year when household energy use increases.

Mr. Glover has reported that since July this year when Full Retail Competition began in Queensland thousands of customers have made the decision to switch energy suppliers.