RET Driven Power Price Hike Bites: Cost of Australia’s Renewable Energy Madness Crushing Consumer ConfidencePosted: October 11, 2017
“The outlook isn’t encouraging either, with the full effect of higher energy bills yet to be felt,” said Capital Economics chief economist Paul Dales.”
FEAR NOT! The (inept) Turnbull Governments’ latest solution to Australia’s electricity crisis – to pay consumers for turning their AC off during summer for a $25 voucher – should save the day…and their government. Not!
More fake fixes to a fake catastrophe.
Stupidity on steroids.
Australian power consumers have just started opening their winter power bills, which are fully 20% higher than this time last year. By comparison, Australia’s underlying rate of inflation is around 1.5%.
The consequences for the economy, as a whole, are just starting to bite.
Restaurants, bars and retailers are copping it from both ends.
Business customers – often on retail power contracts with fixed prices for two or three years – are watching their power costs almost double, as they enter new contracts with prices fixed at the current rates.
And the customers who consume what these businesses hope to offer, have been forced to cut back on expenditure, simply to be in a position to pay their own rocketing power bills. Some might call it a vicious circle.
STT calls it a self-inflicted economic suicide.
Shoppers stay away as power costs bite
6 October 2017
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