Payback is a b!tch

Federal Liberal Party MP Malcolm Turnbull in The Sydney Morning Herald on 11 August 2012 busily contradicting the electricity pricing position of the man who ousted him as Leader of the Opposition:

"Over the last five years or so in the east coast capital cities, electricity prices have gone up by about 50 per cent. This is pre the carbon tax. That has been largely a function of the investment in distribution and transmission, in poles and wires,"…..

Because they are borrowing with the benefit in effect of a government guarantee, they have got a real incentive to invest and indeed to overinvest. This is what's called gold-plating,"…

In many cases they are spending billions of dollars, so it is argued, to reduce the chance of a brownout from very, very little to very, very, very little,"…..