South Australian households may now be paying the world's highest prices for electricity as the latest increases hit.
That's the assessment of Bruce Mountain, from economics consultancy group CME, who says SA overtakes Denmark on Saturday when electricity retailers levy most households with an average rise of 18 per cent.
He told ABC radio this week his conclusions are based on comparing a representative household in South Australia with a similar household in Denmark, which was previously known to be the most costly electricity market.
But South Australian Treasurer Tom Koutsantonis has rejected the claim.
"There's no evidence to support Mr Mountain's claims. None," Mr Koutsantonis said.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
The treasurer said forward prices for electricity in SA were nearly equal to those in NSW, Queensland and Victoria.
"Prices in Australia are too high, no doubt about it. But they're not the highest in the world," he said.
Regardless of who is right, both agree the market is not currently acting in the interests of consumers.
South Australian Premier Jay Weatherill says the state government's $500 million energy plan will put downward pressure on prices as extra generation and battery storage enters the market.
