Victorian consumers used to enjoy some of the cheapest energy in the world; manufacturers thrived on low-cost gas and electricity. Not any more.
When South Australia suffered its dramatic whole-of-State blackout last year, it was natural gas to the rescue, restoring power to millions of consumers and thousands of bewildered businesses.
Businesses will need to cut their power use this summer or face supply interruptions, despite a reinstatement of some dormant gas-fired power generation, according to the Australian Energy Market Operator (AEMO).
Western Australia’s gold mining industry is currently up in arms at what it describes as a “jobs and project destroying’ planned 50% hike in the production royalty it pays to the State.
This week’s renewable energy announcement by the Victorian Government sets the scene for higher electricity prices and more pain for businesses and consumers.
Many Australians are paying more than they need to for their electricity, it has been revealed this week. To try to help consumers get the best deal, the Federal Government is moving to encourage electricity retailers to be more open with their pricing and billing practices.
The final report of the Finkel Review into the stability and security of the National Electricity Market has confirmed what the gas industry has been saying for years, and in doing say has punctured the indignant and increasingly shrill claims of activist groups.