The consequences of retail electricity price rises: Rethinking customer hardship
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The Australian energy sector is nearing the end of an investment megacycle, which has driven above-trend electricity tariff increases. In this article, we combine energy market and demographic data and find that the dominant thought on customer hardship, aged pensioners, pales into insignificance by comparison to those in the Family Formation cohort, those known as Australia's 'working poor'. Our modelling results are clear in their implications: hardship policy for energy customers requires re-engineering. The structure of electricity tariffs requires an overhaul-shifting to interval meters, time-of-use pricing and monthly billing to redress the investment megacycle and the incidence of hardship.
The Australian Economic Review
Copyright 2014 The University of Melbourne, Melbourne Institute of Applied Economic and Social Research. This is the peer reviewed version of the following article: The Consequences of Retail Electricity Price Rises: Rethinking Customer Hardship, Australian Economic Review, Volume 47, Issue 1, March 2014, Pages 13–43 which has been published in final form at http://dx.doi.org/10.1111/1467-8462.12043. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving (http://olabout.wiley.com/WileyCDA/Section/id-828039.html)
Economics not elsewhere classified