Australia news LIVE: Energy market suspends trading to sure up electricity grid; Fair Work Commission raises minimum wage by 5.2 per cent; RBA predicts 7 per cent inflation by end of 2022

  • 📰 smh
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 80%

Business News News

Business Business Latest News,Business Business Headlines

Breaking: The Australian Energy Market Operator has taken control of the electricity market, suspending trading of power generation until further notice

The Australian Energy Market Operator has made an extraordinary move and taken control of the electricity market, suspending trading of power generation until further notice.

“In the current situation, suspending the market is the best way to ensure a reliable supply of electricity for Australian homes and businesses,” Westerman said. A compensation regime applies for eligible generators that bid into the market during suspension price periods.Restaurant and Catering Australia chief executive Belinda Clark says some businesses will struggle to retain staff despite being given a delay in bringing inThe hospitality, tourism and aviation sectors were awarded a delay by the Fair Work Commission, which has given them until October 1 to start increasing wages.

“We will continue to fight for the industry and work with government to make sure that there is an environment for businesses and their workers to flourish.”Rachel Clun “ABS data says 43 per cent [of small businesses] had an increase in operating expenses in the latest reporting period, compared with 22 per cent last year. So, we’re seeing a massive increase to input costs,” she said.

She said many businesses were either unwilling or unable to pass on increased costs to customers, leading to owners working around the clock in some cases to keep their business going.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Now can we just kick the Chinese out of Australia, and re-nationalise?

Tell me why Vivid is still running in Sydney

great to hear the government is trying to do its job......at last

GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe

Golden Rule: Never trust the private sector with anything important.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australia news LIVE: Fair Work Commission raises minimum wage by 5.2 per cent; Greens call for energy market change, Federal MPs win pay rise, RBA predicts 7 per cent inflation by end of 2022Breaking: Australia’s lowest paid workers will receive a real pay rise after the Fair Work Commission raised the minimum wage by 5.2 per cent Great, now product prices are going to rise even more. The Albanese government are romping it in! A new era, thank goodness Good work Albo.!
Source: smh - 🏆 6. / 80 Read more »