A Senate inquiry into electrical prices, with a range of reforms is currently on the table, but, says Mr Belkin, a key factor in delivering better electrical prices to consumers lies with removing governments from of the equation.
“We need to get the governments out of electricity supply, or put in a regulatory framework that is transparent, and freely available to the public so that we can see exactly where the money is going” said Mr Belkin in an interview this week.
“At the very least, the senate inquiry needs to implement recommendations that make state governments accountable for their energy supply spending decisions, including infrastructure costs and transparent tender processes.”
The lack of accountability and transparency, Mr Belkin believes is ‘jaw-dropping’
“These are networks that have multi-billion dollar spends, and until they are called to account for this expenditure to the people who foot the bill - the public - we will continue to suffer the effects of exorbitant spending” explained Mr Belkin.
In a recent interview about the Senate inquiry, Matt Levey, head of Choice, revealed a similar view, saying “One of the reasons why electricity prices have gotten so out of control is that no one's put up their hand to own it. It sits in this grey area between state and federal governments.”
There is no doubt that the introduction of the Carbon Tax caused a media frenzy, however it has now been shown that its effect has been minimal, less than 10 percent. Electricity retailers, those who send out the accounts to consumers, have shouldered much of the burden public complaints. However, Mr Belkin says, they are not solely responsible.
“The major contributors to rising electricity prices in Australia are infrastructure costs passed on by the government-run networks, and green-schemes imposed by the governments”
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