Origin Energy CEO Frank Calabria says electricity prices are likely to rise by 20 per cent, with the price increase coming into effect on July 1.
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Labor govt ‘rushing’ destruction of Australia’s most ‘basic input’ energyHerald Sun Business Commentator Terry McCrann says the government is “rushing” the destruction of energy production and we should instead be going out of our way to “encourage” energy investments in Australia. “It’s not as if we have a very sound globally competitive industrial base to start with, we should be going out of our way to encourage investment in Australian industry,” Mr McCrann told Sky News host Andrew Bolt. “The most basic input is energy – yet we’re not simply allowing it to be destroyed, we are actively rushing to that end.”
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‘Pathetic’: Albanese on Opposition’s question over energy plansPrime Minister Anthony Albanese grills the Opposition Leader Peter Dutton during Question Time on Tuesday after labelling questions on energy prices as “pathetic”. “The leader of the opposition asks about the – modelling that was done on our energy plan – the only time in their 22 policies they put forward, none of them landed, none of them delivered,” Mr Albanese said during Question Time on Tuesday. “The more pathetic the question the louder the interjection. “The sounds of silence is what we hear from those opposite when it comes to their big issue they were going to make – it shows their dishonesty.”
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‘Afterglow’ of Tuesday’s RBA statement has been ‘short-lived’CommSec’s Tom Piotrowski says the “afterglow” of Tuesday’s RBA statement has been “short-lived”. “Overnight, we’ve heard from the head of the US Federal Reserve Jerome Powell – he's testified in the first of two sittings,” he told Sky News Australia. “Today he’s talking to the Senate banking committee, or he did earlier on, and he kind of really set the tone here for what he’s going to be telling the lawmakers over the next day.” Mr Piotrowski said the markets have concluded that any potential for a moderation in rate hikes is “a thing of the past”. Presented by CommSec.
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Albanese is seeking to ‘diversify’ trade links for a ‘more secure’ economyAustralia is seeking to “deepen and diversify” its trade links as Prime Minister Anthony Albanese travels to India with “one of the biggest and most significant” business delegations ever assembled in Australia. “By any measure, Australia is a better place because of our large, diverse and aspirational Indian-Australian community – the fastest growing group in Australia,” Mr Albanese said at a speech during the 2023 Business Summit on Tuesday. “In 2021-22, India was only Australia’s sixth largest goods and services trading partner … we can elevate that. “Our government is seeking to deepen and diversify Australia’s trade links, greater diversity in who we trade with and greater variety in what we trade.” Mr Albanese said this would mean the Australian economy would be “more resilient and more secure” with “one in four” Australian jobs relying on international trade as he expressed his determination to create more jobs in the export industry for the global expanse of Australian companies.
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‘No doubt’ people ‘feel’ rising interest ratesSocial Services Minister Amanda Rishworth says there’s “no doubt” people feel the rising interest rates, following the RBA’s tenth consecutive interest rate rise. “I would say there’s no doubt that of course rising interest rates, people do feel it, whether you be a business owner or a homeowner this is a very difficult time for many,” Ms Rishworth told Sky News host Sharri Markson. “And so as a government we’ve got to make sure that we take responsible action when it comes to supporting people with cost of living.”
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