A video of billionaire Elon Musk’s response to Australia’s energy costs has resurfaced as Aussies battle skyrocketing bills.
The footage shows Musk clearly stunned after being presented with domestic electricity prices.
“Wow really?” he said in disbelief when told that electricity was becoming a “luxury” for many families.
The interview was filmed in 2017, but has resurfaced this week.
‘I didn’t know it was so expensive. Australia has so many natural resources that even if you choose the fossil fuel, electricity should be very cheap,’ he says.
His shock turned to sadness when he was told that many people were afraid they wouldn’t be able to turn on their lights or cook food.
“I didn’t expect that,” he said in a trembling voice, before pausing for a few seconds and promising, “We’ll work harder.”
Musk’s clip from 2017 was shared massively on social media this week and sparked a deluge of reactions.
One person said, “Yes, our country should be as rich as China, but our politicians can’t run a bath let alone a country.”
A second said: ‘The government should tax mining companies as they do in Northern Europe! It’s insane that we don’t take advantage of our resources anymore.’
While a third said: ‘Our water and electricity are crazy expensive.’
Another said, “We’re run by a bunch of glorified tax collectors.”
“We have so much land here, but our real estate prices are ridiculously expensive,” said a fifth.
A TikTok video explained how Australia produces the most lithium in the world, about 46 percent of the world’s supply. Lithium is used in dozens of everyday items, including laptops and phones
In March, it was revealed that Australian households in four states will face sharp increases in electricity prices in the coming months as the country’s energy regulator flags rise to 31 percent.
Victorians will see their bills rise by nearly a third, while NSW, Queensland and South Australia will also see steep increases.
Australia’s energy regulator on Wednesday released its draft standard market offering – essentially the maximum price that energy retailers can charge residential and small business customers – for the 2023/24 financial year.
Victoria’s Essential Services Commission did the same for that state, signaling a whopping 30 percent increase in electricity prices for households and 31 percent for small businesses.
Musk was moved to tears when told that many people were afraid they wouldn’t be able to turn on their lights or cook food
This would increase a typical household bill from $1,403 to $1,829 per year, while small businesses could expect an increase from $5,620 to about $7,358.
According to the Commission, approximately 400,000 Victorian households and 55,000 small business customers use that state’s standard offerings.
For NSW, Queensland and South Australia, the Australian energy regulator signaled price increases of between 19.5 and 23.7 percent.
Standard offerings for residential customers in NSW were expected to grow 20.9 percent and 23.7 percent for small businesses.
Treasurer Jim Chalmers announced energy cuts in the recent federal budget in an effort to support Aussies struggling with the cost of electricity.
In 2021, Daily Mail Australia revealed that two of Australia’s largest energy companies are owned by Chinese investors.
Energy Australia, which has 1.7 million customers, is owned by the China Light and Power Company after being sold by the NSW government for $1.4 billion in 2011.
And Alinta Energy, which has 1.1 million customers, was sold by its private owners to Chow Tai Fook Enterprises for $4 billion in 2017.
While neither Energy Australia nor Alinta distribute electricity, both are energy producers and retailers, owning critical assets such as coal-fired power stations, solar fields and wind farms.
Alinta Energy’s assets include the Braemar Power Station in Queensland, the Wagerup Power Station in Western Australia and the Loy Yang B Power Station in Victoria.
EnergyAustralia’s infrastructure includes the Cathedral Rocks wind farm in South Australia, the Tallawarra petrol station in NSW and the Yallourn coal station in Victoria.