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Australia’s energy crisis is making it uncompetitive globally

27 8 3

SOARING energy prices have long been notorious among Australians trying to settle the house bills.

The country of 25 million has been plagued with energy woes for decades with blackouts in South Australia, the shuttering of coal-fired power plants, and a surge in energy poverty has been the cause of major headaches for regular Australians and the root of hours of political debate in parliament.

The impact on everyday Australians has been building for a long time, and a new report from the United States Studies Centre (USSC) highlights the detrimental effect it is now having on the country’s economy.

As other countries master their energy woes, Australia’s soaring prices are affecting standing in the world. China is also the world’s biggest investor in renewable energy, the United Kingdom now generates more electricity from wind farms than from coal power plants, and the United States has one of the world’s largest installed solar photovoltaic capacities.

SEE ALSO: Elon Musk’s Tesla battery in South Australia ready to be powered up

Australia’s struggle to get to grips with its energy crisis is pricing it out of the international business market.

Economy and global business

In a globalised economy like Australia’s, high energy costs posed an immediate threat to industries such as........

© Asian Correspondent