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.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia news live updates: power shortfall warning as energy crisis escalates; Robert Hughes set for releaseElectricity shortfalls are predicted in NSW and Queensland as a long cold snap rolls on
Read more »
Australian Energy Council encourages people to consider ‘energy efficiency measures’
Read more »
Gas crisis LIVE updates: ‘Bumpy’ winter ahead as energy crisis bitesNSW, federal energy ministers confident blackouts can be avoided in the immediate future; same policies but new tone flagged for China relations. Follow updates here.
Read more »
Gas crisis LIVE updates: Energy ministers confident blackouts avoidableNSW energy minister confident there’s enough capacity to avoid blackouts; military chiefs in the dark about who will preside over Defence Force branches. Follow updates here.
Read more »
Gas crisis LIVE updates: Decade of ‘very poor’ policy blamed for energy crisisAustralian Energy Council says price cap causing some generators to withdraw plants; ex-RBA board member says 10 years of “very poor” climate, energy policy to blame for crisis. Follow updates here.
Read more »
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
Read more »