Electricity prices blowout despite promises of privatisation: report
The Australia Institute released a report Electricity Costs which finds that electricity prices have increased at three times the rate of CPI. The report finds that companies have been ‘gold-plating’ financial assets and passing those costs onto consumers.
Between December 1996 and December 2016 Australian electricity prices increased by 183 per cent—almost three times the overall increase in prices.
Figure 1: Electricity prices compared with all prices (CPI); Sep 1980 = 100
Source: Authors’ calculations based on ABS (2017) Consumer Price Index, Australia, Cat no 6401.0, 25 Jan.