"CBA: We put profit ahead of people", was the headline emblazoned on the front page of the November 20 Sydney Morning Herald. The paper was reporting on the first day of the final round of hearings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, in which the CEOs of the Big Four banks were being grilled about the banking scandals that have outraged the Australian community over the past year.
After 25 years, it is clearer than ever that privatisation of electricity in Australia has been a disaster for people and the planet.
In the early 1990s, prior to privatisation, energy prices in Australia were some of the lowest in the world and had been dropping for decades. That trend was sharply reversed following privatisation. Today, households are paying skyrocketing prices and growing numbers of Australians are now living in “energy poverty”.