Energy retailer tells more than 70,000 customers to go elsewhere or face doubling of prices

“This could get nastier than it already is,” Tony Wood, a senior energy analyst at the Grattan Institute, said. Retailers and some large industrial users who had been buying from the spot market or who had only limited hedging strategies “would be in deep shit”.

“When we’ve had blackouts as we did in South Australia in 2016, and then we had brownouts or rolling blackouts in Victoria in 2017, it was the state governments who really were in the firing line,” Wood said.Sign up to receive an email with the top stories from Guardian Australia every morning In Sydney, Aemo has also had to intervene to set a clearing price for gas for four weeks in the wake of Weston’s departure. Since that price was “significantly lower” than spot prices at other gas trading hubs a day, the quantity of gas available in the city had also fallen sharply.

That's not how a business should work

Wowsers.

All those years of HonTonyAbbott (there is NOTHING honourable about this [pick your own noun]), TurnbullMalcolm & ScottMorrisonMP doing everything they could to destroy renewables (yes, Malcolm, you did, just by being one of THEM). Set us back DECADES. May they ROT.

Hilarious the very business group who argued against the price on carbon demanding Labor fix the COALition's disaster

Fantastic. Great move. Well done AngusTaylorMP

Love it when all the Greenies have to pay more

Try AmberElectricAU

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'Huge day for Australia': Energy giant AGL drops plans to split companyAGL Energy has ditched plans to split the company into two following strong opposition from billionaire Mike Cannon-Brookes. AGL MikeCannonBrookes Why are we reducing people to titles like their person income, he’s a smart guy and a very successful business man, give people their dues! Anyway he is pretty switched on and I agree with his outlook on Australia’s energy policies and the role the private sector plays. So… Why weren't regulators doing their job? Dreams don't pay the bills. But try telling that to super wealthy philanthropists! LOL
Source: SBSNews - 🏆 3. / 89 Read more »

Nuclear energy ‘not on the table’: DuttonThen put it on the table for discussion. Take the fight to Albo. Australia Toxic team approaching D_LittleproudMP BridgetMcKenzie The_Nationals Nuclear, glyphosate, cloudseeding....when someone shows you who they really are? Believe them Thanks for clarity PeterDutton_MP auspol nswpol AlboMP AustralianLabor QLDLabor everything is potentially on Duttons agenda; he would endorse the manufacture of Soylent Green if he thought it might see his cohort of sociopaths re-elected to government
Source: SkyNewsAust - 🏆 7. / 78 Read more »

What Grok sees at AGL Energy: UBSUBS analysts reckon the market may be missing one of Mike Cannon-Brookes’ big reasons for investing in AGL Energy.
Source: FinancialReview - 🏆 2. / 90 Read more »

Lithuania becomes first European country to stop all Russian energy imports
Source: SkyNewsAust - 🏆 7. / 78 Read more »