Aussie business slapped with $900,000 power bill increase amid cost of living crisis

Nippy's is a third-generation family business with three manufacturing sites across South Australia supplying juice and milk to Aussies.

The latest quote hit the business with a $1.7 million per year electricity contract which is an increase of 95 per cent. Knispel said on top the electricity increases, other costs are also going up, including milk coming from the farms which jumped by 25 per cent.But on top of now having to find an extra $900,000 to pay for the electricity the business is worried about passing on the costs to customers to cover the burden.Knispel said Nippy's has "no choice" but to pass on the costs.

Liberal MP Tony Pasin said it is inevitable the costs businesses are slapped with will be passed on to the consumer."When people go to the grocery store they're not getting far down the aisle before they run out of cash."But he warned this may drive customers away from Australian businesses.

Thanks Labor.

Surprised they wouldn’t have invested in solar years ago.

These elec companies have the monopoly...they can increase it to what ever they feel like. Don't pay it, get cut off. What choice do we have?

If they're silly enough to not have their factory covered in solar panels, well....

You get what you vote for.

And the reserve bank thinks raising interest rates to cripple homeowners and renters will somehow remedy things like this. Energy hikes are the reason for inflation, not ordinary Aussies with “too much spending power”

Surely you must be begging to wonder why. We own the coal. We own the gas. And don’t blame Russia

Get ready for a recession.

But but isn’t SA a renewable superpower?

So ultimately it’s the consumer that ends up paying more therefore rising prices therefore higher interest rates, it’s not hard to see one of the main factors in the current economic situation causing inflation is stupidity around power and gas . 🤦‍♂️

All they will do with their POWER INCREASE is pass on the COST to the CONSUMERS through the sale of PRODUCTS.

The pep 11 permit needs to be fast tracked to help stop Australian business from going bust. Australians are hurting!

Thanks Albo275 and Blackout Bowen. They weren't at school the day supply & demand was taught.

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.

Popular Australian Buy Now Pay Later company collapsesAustralian Buy Now Pay Later company Openpay has collapsed, with the appointed receivers already making an “urgent assessment” of the business. 7NEWS are they paying staff what is owed ? Disapointing i gotta learn it on the news and not them
Source: 7NewsMelbourne - 🏆 18. / 59 Read more »

Five charts that explain how the Australian electric vehicle industry is boomingElectric vehicle demand has skyrocketed in the past two years thanks to government incentives, new technology and soaring petrol prices. Here are five charts that show how the industry is booming in Australia 👉
Source: brisbanetimes - 🏆 13. / 67 Read more »