From July 1, South Australia will surpass Denmark as having the most expensive power in the world.
Energy companies AGL, EnergyAustralia and Origin Energy will all be increasing their electricity prices this Saturday. On average, AGL will be increasing its prices by 18 per cent, EnergyAustralia by 19.9 per cent, and Origin Energy by 16.1 per cent.
According to energy experts, Australian consumers (particularly those in SA) are already paying more for electricity than its actual value as a resource.
The latest price increase comes just after SA company Plastics Granulating Services (PSG) announced its closure to due rising power prices. Not to mention a long list of other SA industrial facilities that have shut their doors in recent years, with power prices being a major contributing factor.