The Australian Energy Regulator (AER) last week approved significant electricity price increases starting this month.
Energy prices, according to AER, are regulated under the Default Market Offer (DMO) prices, which is ‘the safety-net price cap that ensures consumers are protected from unjustifiably high prices’.
In a statement on www.aer.gov.au, they said, ‘From July 1, the DMO prices in NSW, south-east Qld and South Australia will increase for households (between 1.7 per cent and 8.2 per cent above inflation) and small businesses (0.2 per cent and 13.5 per cent above inflation), largely owing to significant rises in wholesale electricity costs over the past year’.
Meanwhile, a former Origin Executive says NSW and Qld residents are seeing the biggest per cent increases, ‘because they still rely heavily on expensive gas and coal, and their old coal power stations increasingly fail’.
SA leads renewables
Andrew Stock, who is also a former Director of the Clean Energy Finance Corporation, said in a press release, ‘South Australia, which has much more renewable electricity, sees far lower increases, and expensive gas is the main reason for the increase there too.’
‘The previous federal government stalled the transition to renewables wherever possible, causing investment in large scale new renewable capacity to collapse, [and they] backed fossil fuel expansion, and put off coal closure’.
These scum have held this announcement till after the election, to enhance the chances of these ‘Liberal’ climate change deniers, who have pulled out all stops to encourage unsupportable reliance on planet destroying gas and coal profiteers. Which is guaranteed to increase the cost of supply of energy.
This wilful ignoring of science and the public’s wishes , this should be a case before the Hague tribunal, as it is a crime against humanity and worse still it is a crime against nature, endangering the future of life on Earth.
Can I get an amen for that . Amen
We had cheap, reliable power. The federal government started mandating renewables onto the grid. As more and more renewables are forced onto the grid and the traditional power plants are shutdown, the price of electricity keeps going up, and will continue up as more renewables are mandated. Traditional power is not expensive, it’s being heavily taxed to subsidise solar panels to make solar appear cheap.