Calls to be careful about increases in gas and electricity bills, before jumping to conclusions.

Genesis and Contact Energy customers will see their gas bills rise by an average of 11 percent, while Contact's electricity bills will go up by around 8 percent.

The move comes as Genesis reports an increase in annual profit of 600 percent, the bills will still go up regardless.

Major Electricity Users' Group Chair John Harbord told Kate Hawkesby it's worth unpicking why the increase is happening in the first place.

He says the wholesale electricity price doubled overnight four years ago, and some of those increases are starting to trickle into the domestic market.

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