The Greens have outlined a new policy for Australia’s electricity assets to be returned to public ownership as power prices continue to skyrocket.

Victorian Greens MP Adam Bandt says the privatisation of poles, wires, transmission and the distribution network has failed.

“Bills have gone up and up,” he told Tom Elliott.

“Across the country we are paying, through higher power bills, contributing to the companies that run that grid having about $5 billion of profit a year.

“I think we should run it as a public good.”

The policy includes a gradual transition to public ownership.

“It’s a natural monopoly,” he said.

“The idea we are participating in a marketplace on this is nonsense.”

Tom Elliott questioned if the Greens were “onto a winner”.

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