Households can expect to pay an extra $15 per month for their power bills if a Commerce Commission proposal is confirmed.

The commission regulates prices and performance standards for the national grid operator, and says these higher prices are necessary to fund investment in the electricity network.

Commissioner Vhari McWha says they're being mindful of the possible effect this could have on consumers.

"One of the things that we have done in order to try and mitigate that a little bit is to smooth the increase over a five-year period."

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