Light bulb$Back in the 1990’s the Australian Federal government decided the electricity market needed to be deregulated and privatised supposedly to make it cheaper for consumers.

So, how did that turn out?

The cost of electricity had been falling (in real terms) for atleast 40 years as the following graph shows.

elictricity prices history

Our energy costs were amongst the cheapest in the world which helped keep Australia competitive in the world market. How much manufacturing do we have left huh?

elictricity prices history by country

Note the entry at the bottom of the graph. “Despite the favourable comparative position disclosed by these statistics, there emerged in the early nineties a political consensus on the need for “reform” of the industry.”

Here is the excerpt from an the same CIGRE report at the time.

elictricity prices history excerpt

Have a look at what we have had to contend with since 2005. Though I am sure most living in Oz would know already how their electricity bills have increased. My personal electricity rate has almost doubled since 2005.

Rate of rises increased dramatically

Rate of rises increased dramatically

So, are the federal and state governments in Australia completely incompetent, or was this simply a money grab for all those involved?  Either way, it appears we have been sold into servitude working only to enrich our new faceless masters (all major energy companies in Australia are owned primarily by overseas interests).

Should make it an election issue I reckon.