ccessandreadthefollowingmediareports.

Attanasio, J(2023) 'Revealed: How much power bills will be increasing by in your state.' Accessed at

https://www.9news.com.au/national/electricity-prices-set-to-soar/5ed9ec22-0861-4546-9291-15b6c2f3094b#:~:text=Electricity%20prices%20in%20Australia%20are,can%20expect%20a%20costly%20winter.

Silva, A. (2023) 'Why are electricity prices rising in July? How can I cut costs? Your energy questions answered.' Accessed at < https://www.abc.net.au/news/2023-05-27/why-are-electricity-prices-rising-australia-energy-costs/102374028 >

Gilmour, J. (2023)Explaining Australia's energy prices and government intervention. Accessed athttps://enlighten.griffith.edu.au/explaining-australias-energy-prices-and-government-intervention/

Required:

Using the above resources, wider research, and your knowledge of Supply and Demand and Market Failure & Government Intervention, explain why energy prices in the electricity market are rising. In your answer consider (1) the supply and demand factors in the electricity market which may be influencing the price; (2) possible government intervention in the electricity market to control prices; (3) justify an alternative energy source to electricity which may/should be a government focus to ease cost of living pressures for Australians.

In completing this assignment task, you are advised to take advantage of CSU's academic