By Jo Nova

Last winter’s debacle in Australia could be repeated this year, but at even higher prices.

Despite adding more cheap renewables per person than nearly anywhere on Earth, for some inexplicable reason our retail electricity prices rose 18% last year and are set to rise another 20 to 30% this winter.

Last year was a bloodbath on the wholesale electricity market. Those costs have fed through to retail.

 

AER Australian wholesale electricity prices.

The Energy Minister Chris Bowen blames the Russians, and says we need more renewables.

Shock power bill jump to hammer households

Perry Williams, The Australian

Power bills for households will soar by hundreds of dollars a year from July 1, adding to soaring cost of living pressures as the regulator blamed supply challenges and volatility for the steep cost hit.

Customers in Victoria face a 30 per cent jump on ‘safety net’ prices while households in NSW, South Australia and southeast Queensland will see bills soar by up to 24 per cent.

The Victorian ruling by the Essential Services Commission estimates power costs will jump by $426 for residential customers to $1829 […]