Antinuclear

Australian news, and some related international items

Privatisation the overriding factor in high energy prices – Dennis Matthews

Dennis Matthews, 29 July 17 According to the Chair of the Australian Competition and Consumer Commission (ACCC), of the six major factors that have forced up energy prices five are directly related to privatisation (The Advertiser 27/7/17).

These are
• inadequate regulation of electricity distribution monopolies
• over-expenditure on electricity distribution infrastructure
• inadequate competition (“concentration”) in electricity generation
• inadequate competition (“concentration”) in electricity retailing, and
• very high gas prices
to which I would add a sixth
• inadequate competition through integration of electricity generation and retailing.

Given that a main function of the ACCC is to make privatisation work, it is not surprising that no mention was made of the political decision to privatise essential energy services.

In order to control skyrocketing energy prices, addressing the overriding factor, privatisation, may have to be the first priority. But don’t expect the ACCC to lead the way.

 

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July 29, 2017 - Posted by | AUSTRALIA - NATIONAL, energy

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