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AUSSIES may have to get used to the shock of electricity bills, with a new report suggesting that high prices are here to stay.
Household bills jumped 20% last year while the wholesale cost of electricity jumped 2017, a report from the Grattan Institute says.
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PLUS: Get Instant Discounts On The # 39, electricity and wholesale prices are expected to remain above historic levels due to the transition in the electricity market, says report author Tony Wood
The Turnbull government is promoting its national energy guarantee as a means of ensuring market reliability. But the report claims that it is impossible for governments to fix the problem because the price increases were caused by problems beyond their control.
"Politicians should tell Australians the hard truth." High prices for wholesale electricity are the new norm, "said Mr. Wood.
He stated that major producers of 39 Electricity is partly responsible because they create an artificial scarcity of supply to force prices.The institute said that this has occurred in Queensland and Australia. South, and there are signs that Victoria and NSW could be next.
Mr. Wood estimated that this could have added $ 800 million to ABC radio .The price paid for electricity traded on the national electricity market
The closure of coal-fired power plants is also part of the problem, but he believed it was "simply a fact of life" that any new technology replaces them. – that it is renewable energy, gas or n central coal news – will be more expensive.
He found high prices for black gas and coal also contribute to larger bills.
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