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Yes, the impossible has happened.
Power prices may drop more than 10 per cent for households across NSW, South Australia and south-east Queensland under a draft regulator’s ruling, although the final decision partly depends on how the turmoil in global energy markets is felt here.
However, the end to government subsidies on electricity bills at the end of last year – of $75 a quarter – means many households may still face increases in power costs this year.
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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.