Electricity prices double in Victoria and SA
The Australian reported today that electricity prices in South Australia and Victoria doubled over the last 12 months. This impacts everyone, including retailers. Some are being hurt badly, if they need refrigeration or freezers to run their business. The state governments still haven’t learnt that when you reduce supply below the demand (by closing power stations), the rules of basic economics cut in, driving prices up. To add insult to the injury, the expensive power is also increasingly unreliable, as South Australia and Victoria shift further towards intermittent energy sources.