A growing crisis in the electricity market has led to wholesale power prices more than doubling in a year - and rising to at least twice what they were under the much-maligned carbon price.

An analysis by the University of Melbourne's Climate and Energy College, produced for the Greens, found the average wholesale electricity price soared to $134 a megawatt hour in the summer just finished, compared with $65-$67 in the two summers the carbon price was in place.

This year, the wholesale cost of electricity was on the rise with many industry experts pegging the blame on an increased investment in renewable energy and the closure of coal stations such as Hazelwood in Victoria and the Northern Power Station in South Australia.