It probably has something to do with you not knowing what the cost structure of electricity is. The following is from an ACCC report on the 2021/22 Electricity Market:
Source: Appendix D – Supplementary Excel spreadsheet with cost stack data and charts - Inquiry into the National Electricity Market - November 2022 report.xlsm (live.com)
As you can see, Wholesale Costs only make up 7.4 cents/kWh of the total charge.
Source: Appendix D – Supplementary Excel spreadsheet with cost stack data and charts - Inquiry into the National Electricity Market - November 2022 report.xlsm (live.com)
"Wholesale electricity costs are an important driver of retail electricity prices contributing, on average, 28% to the total average cost per residential consumer in 2021–22." Source: Inquiry into the National Electricity Market: June 2023 Report (accc.gov.au)
Regards
SP
