Millions of Australian households are being warned their power bills will continue to rise after the country’s energy market operator reported record-high costs. 7NEWS
The war in Ukraine is placing significant strain on global supply and Mountain said that a resolution, or at least a clearer idea of where the conflict is heading, would stabilise the market.
Anthony Albanese took a pledge to slash power bills by $275 into the federal election, basing it strongly on a plan to transition to cleaner energy. “We have a comprehensive plan, which is backed by the Business Council of Australia, backed by the Australian Industry Group, the Australian Chamber of Commerce and Industry, backed by the Clean Energy Council … backed by Greenpeace … And what every single one of those organisations is saying is that business need the investment certainty that they haven’t had for a decade,” he said.
Senior energy market analyst and director of Climate Energy Finance Tim Buckley said fossil fuels were behind the huge interest in wholesale electricity prices.
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