Australia's household power prices rose 63% in past decade, says watchdog

The Australian Competition and Consumer Commission says lack of competition is behind 'severe electricity affordability problem'Residential electricity prices have increased by 63% on top of inflation over the past decade, according to Australia's competition watchdog, mainly due to higher network costs, which comprise 48% of a household bill.An interim snapshot, to be released by the Australian Competition and Consumer Commission on Monday ahead of the expected unveiling of the Turnbull government's new energy policy this week, found there was a "severe electricity affordability problem across the national electricity market, and the price increases over the past 10 years are putting Australian businesses and consumers under unacceptable pressure". Continue reading...