The report is by the highly respected and independent think tank
"The Australia Institute" http://www.tai.org.au/
The discussion paper shows how privatization has not worked, with prices increasing by 183% , reminds us of the broken promises of reduction of costs to consumers, reduced numbers of electricity industry workers, looses of jobs in many communities...and an increase in back office sales, compliance --- all at time when large profits have been made by the new owners. The paper is well worth reading and circulation to any one following the electricity privatisation debate, in Australia and globally.
Quotes attributable to ACTU Secretary Sally McManus include "Privatisation of our key public services has led to higher prices and lower service. It is the foundation on which neo-liberal free market ideology is built and after 20-30 years the verdict is in – it’s been a total failure.”
See https://www.actu.org.au/actu-media/media-releases/2017/soaring-power-prices-under-privatisation-heaps-more-pain-on-australia-s-growing-class-of-working-poor
The ACTU also reported -
Instead of delivering on promises of cheaper and better electricity supply, privatisation has delivered the exact opposite – higher prices and lower services – allowing sky-rocketing managerial salaries, sprawling sales departments and record corporate profits.
The government’s own regulators back this up. The 2017 Australian Energy Market Commission Retail Energy Competition Review, published 48 hours ago, shows 1 July 2017 power price increases were significantly higher in states that had privatised their energy:
- New South Wales (Private) 15-21% increase
- South Australia (Private) 6-21% increase
- Victoria (Private) 11-43% (excluding Alinta)
- Queensland (Public) 4-9% increase
The full report can be down loaded at http://www.tai.org.au/sites/defualt/files/P415%20Electricity%20costs_0.pdf
Graph from http://www.tai.org.au/content/electricity-costs
