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Electricity prices to double in the next five years

Author
Newstalk ZB,
Publish Date
Fri, 12 May 2023, 7:08pm
Photo / File
Photo / File

Electricity prices to double in the next five years

Author
Newstalk ZB,
Publish Date
Fri, 12 May 2023, 7:08pm

After eight years, today marks the final day for the current CEO of the Electricity Network Association Graeme Peters, his final words being a warning that electricity bills will double within the next five years.

Peters told Heather du Plessis-Allan that it’s due to decarbonizing, and the subsequent investment into infrastructure that will support electric vehicles.

He says that the total cost will be around $22B over the next eight years, and it’s likely that this cost will be passed onto the consumers.

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