EXTRACT from an article byssociate Professor, Centre for Social Research and Methods, Director, Centre for Economic Policy Research (CEPR), Research School of Economics, Australian National University.
Electricity prices have doubled in the past ten years, climbing 117%, which is 76% more than inflation. Gas prices climbed 89%, 53% more than inflation.
In a report to be released on Friday by the Australian Council of Social Service and the Brotherhood of St Laurence, we examine what these climbing prices have actually cost different types of households, after taking full account of energy use and government concessions and rebates, including solar energy rebates.
Our modelling is based on the Bureau of Statistics Household Expenditure Survey. We use the changes between the 2003-04, 2009-10 and 2015-16 surveys to develop estimates for the changes between 2008 and 2018.
For most, it’s as affordable as it was ten years ago.
A perhaps surprising finding is that, despite those strong price rises, there has been relatively little change in the amount households spend on gas and electricity as a proportion of their incomes.
SOURCE: Phillips, Ben. “Newsflash. For Most, Energy Remains Affordable.” The Conversation, 12 October 2018.
Produced by the librarians at the Brotherhood of St Laurence in Melbourne, Australia