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ABC News

Business

energy reporter Daniel Mercer

Australia on the 'precipice' of a UK-style energy crisis as soaring costs push retailers out

Australia United Kingdom Bruce Mountain Electricity

A massive increase in the price of coal has driven a spike in wholesale electricity costs. (ABC News: John Gunn)

Australia is on the "precipice" of a UK-style energy crisis that could send many of its power retailers broke and fuel a surge of households unable to pay their bills, a leading expert has warned.

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