suggest you look at international comparisons
Country/Territory US cents/1kWh As of Sources
Australia 18.55 2006–2007 2009–2010 PEI[2]
Belgium 11.43 2006–2007 2006–2007 PEI[2]
Canada 6.18 2006–2007 2006–2007 PEI[2]
Croatia 17.55 2008-07-01 2008-07-01 HEP
Denmark 42.89 2006–2007 2006–2007 PEI[2]
Finland 6.95 2006–2007 2006–2007 PEI[2]
France 19.25 july 2009 2009 EEP[3]
Germany 30.66 july 2009 2009 EEP[3]
Hong Kong
(Kowloon/ NT) 11.80 2008-04-23 2010 CLP announces new tariff[4]
Hong Kong
(HK Is.) 12.30 2008-04-23 2008-05-07 HEC[5]
Iceland 8.45 2008-07-07 2010-08-15 OR[6]
Ireland 23.89 2006–2007 2006–2007 ESB[7]
Italy 37.23 july 2009 2009 EEP[3]
Malaysia 7.42 Dec 2007 Dec 2007 ST[8]
Netherlands 34.70 july 2009 2009 EEP[3]
Perú 10.44 2006–2007 2006–2007 PTL[9]
Philippines 28.80 April 2010 April 2010 EEP[3]
Portugal 16.39 2009 2009 EDP[9]
Singapore 17.34 Jul 2010 to Sep 2010 Jul 2010 SingaporePower[2]
Spain 19.50 july 2009 2009 EEP[3]
South Africa 10.15 2008–2009 2008–2009 Eskom[10]
Sweden 27.34 july 2009 2009 EEP[3]
Kingdom of Tonga 45.70 june 2010 2010 [11]
UK 18.59 july 2009 2009 EEP[3]
USA 9.28 2006–2007 2006–2007 PEI[2]

[edit] See also

The changes to electricity costs have come from moves to corporatism and privatisation, the true cost is now being charged with limited cross subsidisation

Who ARE these people? First it was John Passant, now Ken McKay. Folks, do you really think a reversion to public ownership of banks is the way of the future? I sincerely hope you are both kidding, just taking a sly swipe. And Wayne Swan, the shy hero? Am I reading this correctly? Are you trying to tell your audience that Wayne Swan is a credible, competent Treasurer? I seriously despair when I read this tripe. Pumping money into the economy and hoping (like a craven worshipper on his knees) for China to keep on keeping on does not tell me much about Wayne Swan other than that he is a realist.

http://www.couriermail.com.au/news/opinion/should-the-federal-government-regulate-commercial-decisions-by-private-companies/story-e6frerdf-1225948136194

Please take the time to read.

http://www.smh.com.au/business/curbing-bank-powers-takes-more-than-pollies-media-and-punters-will-admit-20101107-17ixu.html

check this out as well.

Bitey decries public ownership; and having worked too closely to Ministers it is clear their integrity is more than questionable and their capacity to interfere inestimable.

How unfettered should markets be?

Costello’s work as Treasurer ensured to a large extent the GFC impact from sub-prime lending was minimised in Australia. No one is pretending the laissez faire approach to financial institutions in the USA and Europe has been successful.

If banks are to be allowed to continue to act as though they are independent of society then let them lose the protections of society – that means end guarantees and cease controlling labour within those organisations. If a bank faces difficulties then take it over totally and shareholders lose; tough. that is a market. If banks are super profitable let everyone who contributes benefit, and have the power to ensure they benefit.

But maybe a debate on what life is actually about may be the area discussions need to go on.

bitey,

the situation is simple the financial crisis created the potential for a run on banks across the world,in australia the govt guaranteed deposits with banks and allowed banks to piggyback on the credit rating of the government sector to raise money , a small fee was charged much lower than other countries around the world.

if we had competition than we would not have to look at other measures, up until the gfc approximately 60% of housing loans was from the five major banks,other banks a little over 20%, credit unions/buildings societies just under 10% and wholesale lenders over 10%. after gfc 5 majors 80%, other banks 10%, credit unions etc just under 10%, wholesale lenders virtually wiped out. it is the removal of alternative wholesale lenders that has removed competition. that is why another wholesale lender (publicly owned bank ) is required to improve competition, the other alternative is either regulation or extraordinary investigative powers to the accc, my solution is the only realistic option.