Australia’s energy generators are warning households and businesses face higher electricity bills within months after coal prices jumped due to the Russian invasion of Ukraine and floods in Australia.
“The challenge for retailers is that the wholesale prices they pay are getting more expensive. When higher wholesale prices feed through, and by how much, depends on how retailers are hedged and the contracts they have in place,” McNamara said. “The trick for the government is if they’re going to take credit for the lower prices, then how can they avoid taking blame for the higher prices?” he said.
The Australian Energy Regulator usually sets the maximum price retailers can charge households and small businesses on May 1. However, the federal government in April delayed that process, known as the “default market offer” until May 25, after the federal election, to give more time to get accurate data on recent price fluctuations.The default market offer is the standing offer contracts from July 1 in NSW, South Australia and south-east Queensland.
micksfoley The price of the sun & wind steady at $0.00 till 1,500,000,000AD
micksfoley Why? It is our coal. How can it cost more due to Ukraine? Seems like a RORT to me!
micksfoley As Australia East Coast gas production is peaking, cost of operating gas peaking plants will also go up mjrowland68
micksfoley Graph shows share of coal generation.
micksfoley could be another reason to invade russia
micksfoley Headline correction: Australian energy providers have found a sham excuse to hike prices and rip off customers.
micksfoley Headline should read,' Electricity bills could rise...(checks power meter) unless you have rooftop solar.' inequity StrandedAssets StrandedConsumers
micksfoley Vote LNP out Australian they blaming all your inflation on the Russian war. it’s no longer Covid inflation.
micksfoley Don't we produce our own coal? auspol
micksfoley local generators buy their coal on the global spot market now ,? arnt they liked to a domestic mine where the price of coal hasnt changed ,how does global and domestic get mixed ,if the price is high enough will domestic coal go overseas ,its a joke right ?