Large gas users fear spiking energy prices could put them out of business, as Energy Minister Chris Bowen calls emergency meetings.
as a result of cold weather driving up demand for heating, a series of outages at coal-fired power stations and spiking commodity prices because of the war in Ukraine.
The Australian Workers Union , speaking after Bowen’s remarks, said more decisive action was needed because “manufacturing literally cannot survive these spiking gas prices for much longer”. Saul Kavonic, an energy analyst at investment bank Credit Suisse, said he doubted that the new Labor government would pull the trigger on the ADGSM. “The new government won’t want one of its first actions to be interventionist that puts many large businesses offside,” he said.
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