Debunking the lies about power prices

Labour and others have been claiming that the cost of power from privately owned power companies is much more than SOEs, and hence scare-mongering that the partial sales will make power prices go up. I have debunked this myth on two previous occasions.

A further debunking is done by Tony Ryall:

 “Treasury advises there are 21 regions listed on the Consumer Institute’s Powerswitch website. In 14 of these regions the cheapest electricity company is privately owned, in 1 the cheapest company is owned by a council, and in the other 6 an SOE is cheapest.”

You can see the data for yourself here.

Treasury advises that in the 12 months from May 2011 to April 2012, 422,256 customers changed electricity retailers (or an average of 35,188 each month)

That is excellent. Competition is what keeps the prices down.