“The Australian domestic market represents somewhere between 15 to 20 per cent of their overall gas sales,” he told Sky News Australia.
“The Australian market is a relatively small market in that context, so there will continue to be a substantial investment,” Mr Richards said.
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Australian energy users call gas industry ‘a bunch of bullies’ amid claims of supply shortagesProducers argue Albanese government’s price cap intervention has ‘paralysed the market’ Time for the Wharfies to step in!
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Energy companies refuse new customers in response to wholesale price capSome energy companies are refusing to take on new customers as others ramp up their costs in response to the Albanese government's introduction of a wholesale price cap. Australia's second-largest energy retailer, AGL, has suspended serving new commercial and industrial customers after failing to secure a contract supply of gas for 2023. Smaller companies such as Discover Energy and Powershop have also refused to take on new customers. AGL continues to accept new residential customers, however, has increased its price by more than 35 percent. I'm always amazed at how and why lefties hate capitalism so much. I think that started happening back in June '22. Proving that all they care about is profit ... energy should be nationalised and these price gougers eliminated.
Source: SkyNewsAust - 🏆 7. / 78 Read more »