Back in the 1990s, we were told the privatisation of electricity and other basic services would mean consumers get a better deal. Today, we know that was a lie.
Power and gas prices are set to rise by a huge 16–19% on July 1, bringing a profit bonanza to the big three electricity companies — AGL, Origin and Energy Australia.
This unpopular price hike comes in the context of record low wage growth, record high housing prices and record levels of household debt.
The federal government is covering for the price hikes by blaming state governments for ruling out unconventional gas (Victoria), or moving too fast to renewables and not planning ahead (South Australia).