High power costs making Aust unattractive

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Rebecca Gredley
(Australian Associated Press)

 

The high cost of power in Australia is prompting investors to eyeball the US, where households and businesses pay about two to three times less.

A United States Studies Centre report released on Wednesday warns the Australian economy will be hurt if local energy prices remain the same.

“Manufacturers we spoke to repeatedly rated the United States as vastly more attractive for investment because of the relatively high cost of electricity and gas in Australia. For large, industrial consumers of energy, Australian prices are simply making us uncompetitive,” CEO Simon Jackman said.

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