The shocking warning that already-sky high energy prices in Australia could soar by as much as 50 per cent in the next year has nothing to do with the conflict in Ukraine.
The last Treasurer questioned the safety of super fund derivatives, but the biggest derivatives gamblers are the banks. Only a public post office bank will keep deposits truly safe.
Thirty-one years after Australia embarked on electricity ‘reform’—corporatisation, privatisation, deregulation, national electricity market, and the renewable energy target—the experiment has been a massive failure.
Who benefits from electricity price spikes to $14,500/MWh, and who pays? Don’t let debates about climate change and renewables blind you to possible cases of vested interests being allowed to exploit the market and gouge the public.
