Electricity rentiers super-charge the lawyers

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A solid piece from Jessica Irvine over the weekend describes what’s at stake in NSW electricity right now:

In a lofty courtroom high above Sydney’s central business district, a David and Goliath battle is unfolding that will decide the size of your electricity bill.

A phalanx of about 40 lawyers representing electricity networks across Australia are attempting to convince three men – the members of the Australian Competition Tribunal – to overturn a decision by the electricity price regulator which would have rewarded NSW households with a $100 to $300 a year saving on their power bills.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.