Australia's electricity sector is in crisis, or something close to it. The nation's first-ever statewide blackout, in South Australia in September 2016, was followed by electricity shortages in several states last summer. More shortages are anticipated over coming summers.
According to the Australian Competition and Consumer Commission (ACCC), retail customers in the National Electricity Market (which excludes Western Australia and the Northern Territory) now pay 44 per cent more in real terms for electricity than we did 10 years ago.
Between 2005 and 2016 the total value of the National Electricity Market (NEM) distribution network increased from $42 billion to $72 billion — a whopping 70 per cent. During that time there has been little change in the number of customers using the network or the amount of electricity they used. The result: every unit of electricity we consume costs much more than it used to.
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My take? Energy efficiency is needed more than ever.
VIV Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
