This Aussie state now has the highest power prices in the world
South Australia now has the dubious honour of having the most expensive electricity in the world, according to figures provided by Carbon and Energy Markets.
South Australia’s average power prices were found to be three times more expensive than that in the US and up to 50 per cent higher than those in the UK.
Carbon and Energy Markets director Bruce Mountain told news.com.au, “I know the (next) most expensive prices are in Europe, US prices are much lower and the only other contender is Japan but I know prices are higher in Europe.”
Other Australian states also proved to be expensive, with NSW featuring the 5th highest prices in the world and Queensland also ranking up there with the 7th highest.
Dr Mountain said the problems in South Australia had built up over a long period of time.
“It’s due to a combination of factors,” Mr Mountain said of the high prices. “Most of them rooted in inadequate policy and implementation of policy over a long period of time so I’m not singling out the current state government.”
Source: news.com.au / Carbon and energy markets
Power prices in some state increased by up to 20 per cent from July 1, and the Australian Competition and Consumer Commission is currently investigating the significant price hike amid accusations of price gouging.
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