'Suckerpunch' electricity price increase locked in for eastern states
Your web browser is no longer supported. To improve your experience update it here BREAKING Australian killed, another injured in Bali villa shooting incident Prices will increase by more than 13 per cent in parts of the country, but one state may be shielded from the worst of it. "This will be a suckerpunch for a lot of customers," Canstar spokesperson Sally Tindall said. The cost of electricity is about to jump higher than predicted across Australia's east coast. (Nine) AGL and Origin Energy locked in new prices for millions of customers today. Starting on July 1, AGL's prices will jump 13.5 per cent in New South Wales. They will also rise 8 per cent in South Australia, 7.5 per cent in Queensland and 6.8 per cent in Victoria - adding $110 to an average Victorian household's bill. Today, the federal opposition slammed the government's action on energy prices. "They imposed price caps that haven't worked, they've completely failed, and we continue to see price hikes," Shadow Treasurer Angus Taylor said. Origin Energy hasn't locked in its electricity charges for Victoria just yet. Gas will cost the average Victorian household an additional $85 per year, which is the largest increase for any state in the country. "There are plenty of options and payment plans available," Origin's Chief Marketing Officer Catherine Anderson said. "We would really encourage our customers to reach out to us, we're here to help." The cost of electricity is about to jump higher than predicted across Australia's east coast. (Nine) For those struggling to pay, some help is on the way. Every household will automatically get a $150 electricity discount thanks to the federal government, and another $100 is being offered to concession card holders in Victoria. For everyone else, the advice is to shop around. "Don't get mad - get even," Tindall said. "By shopping around you, could potentially save hundreds of dollars off your electricity bill." Other retailers will lock in their prices in the coming days. national
Victoria
power
Electricity CONTACT US
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Perth Now
2 hours ago
- Perth Now
Australia holds cards as global lithium shortage looms
Despite undergoing an expected tenfold explosion over the next five years, international lithium production is destined to fall short of soaring universal demand for electric vehicles. The highly sought after alkali metal has become "as important as gasoline in the industrial revolution", according to Shanghai academic Qifan Xia. "While lithium reserves are substantial around the world, they are distributed unevenly across different countries," he explains. "So we were interested if the major EV markets can be self-sufficient." In fact, the world's biggest lithium markets - China, Europe and the United States - account for 80 per cent of global EV sales but simply won't be able, by 2030, to meet their own demands. For the planet's leading lithium producers - Australia and Chile - the future is therefore lucrative. Dr Xia and his team at East China Normal University estimate the economic superpower will need up to 1.3 million metric tons of lithium carbonate equivalent - a standard measure of lithium content - to meet its new electric vehicle quota. Europe could require 792,000 tons and the US 692,000. Based on existing and proposed mining projects for all three, China might be able to produce somewhere between 804,000 and 1.1 million tons of equivalent by 2030. Production in Europe could reach 325,000 tons and in the USA, between 229,000 and 610,000 tons. The predictions suggest even the most ambitious plans to expand domestic mining would fall short, even if projects begin quickly. Europe would face the largest gap, with modelling showing it would rely heavily on imports. The researchers also warn that increased imports by one region would directly reduce access for others, exacerbating supply constraints and straining international trade relations. In one scenario they calculated, an increase of 77 per cent in Chinese imports would mean imports to the US would drop by 84 per cent and to Europe by 78 per cent. Most of Australia's lithium is produced from hard-rock spodumene, in contrast to other major producers like Argentina, Chile and China, which produce it mainly from salt lakes. A 2023 estimate suggested Australian production will hit a cap of 1.2 million tonnes of equivalent by 2030 and it will remain the top producer but with a smaller proportion of the world's production. It is currently the biggest producer of lithium by weight, with most extraction undertaken in Western Australia including at the worlds largest hard-rock mine, Greenbushes. Dr Xia says other means of avoiding a looming lithium crisis might include adopting battery technologies that use less or no lithium, or shifting consumer focus to promoting public transport. "Our study showed that without immediate action to expand mining, diversify suppliers and rethink how we manage demand, the world risks delays in meeting critical climate and energy goals," he said.
9 News
2 hours ago
- 9 News
PM confirms first face-to-face talks with US President Donald Trump
Your web browser is no longer supported. To improve your experience update it here BREAKING Gunman on the run after US politician shot dead The leaders will meet on Wednesday on the sidelines of the G7 summit in Canada. The G7 brings together Canada, France, Germany, Italy, Japan, the United Kingdom and the United States as well as the European Union. Albanese is currently in Seattle where he is meeting with business leaders to discuss how the US and Australia can work together to take advantage of emerging technologies, including artificial intelligence. Albanese is currently in Seattle where he is meeting with business leaders to discuss how the US and Australia can work together to take advantage of emerging technologies, including artificial intelligence. (Alex Ellinghausen) Speaking from The Spheres, Amazon's Seattle headquarters this morning the PM said he hoped to have "constructive engagement" with the US president. "I look forward to building on the very constructive phone conversations that we've had on the three occasions that we've had the opportunity to talk," he said. "I obviously will raise tariffs. We'll raise, as well, of AUKUS, and we will have a discussion, as two friends should." Amazon announced it would increase investment in Australia by up to $20 billion during the talks in Seattle. The funding will mostly target Victoria and Sydney where the country's largest Amazon centres are set for AI improvement. Another point of discussion revolves around the amount of investment from the US in Australia, as many of the products from Australian providers that are sent to America remain on the line. national Politics Anthony Albanese Donald Trump World CONTACT US
Herald Sun
2 hours ago
- Herald Sun
Anthony Albanese to meet with Donald Trump
Don't miss out on the headlines from National. Followed categories will be added to My News. Anthony Albanese has locked in a face-to-face meeting with Donald Trump where he intends to press Australia's case on tariffs and defence in a 'discussion as two friends should'. Speaking in Seattle during a stop on his way to the G7 Summit in Canada, Mr Albanese revealed he had secured a meeting with Mr Trump that was scheduled to take place on Tuesday local time. There were fears the US President would snub requests for meetings with other world leaders at the Group of Seven summit, and possibly skip the event altogether amid domestic upheaval of his immigration policy and the growing conflict between Israel and Iran. 'Obviously there are issues that the US president is dealing with at the moment, but I expect that we will be able to have a constructive engagement as well and I look forward to building on the very constructive phone conversations that we've had on the three occasions that we've had the opportunity to talk,' Mr Albanese said. 'So obviously I will raise tariffs, I will raise the importance as well of AUKUS and we will have a discussion as two friends should.' Asked whether he would follow the UK's strategy in an attempt to secure a trade deal with the US, Mr Albanese said Australia would play to its unique strengths, including its rich critical mineral resources. Mr Trump had agreed to reduce tariffs on British steel and automotive exports in exchange for greater market access in the UK for American products. 'Australia is a major contributor in our region to security, and the relationship that we have with the United States is an important one,' he said. 'And one of the things that I will state privately as well as I state publicly, is that the United States has enjoyed a very long trade surplus with Australia…'. Australia exported more than $23 billion in goods to the US in 2024, about four per cent of its total exports globally which were in excess of $500 billion. Australia is currently subject to the global baseline of 10 per cent tariffs on all good exported to the US and tariffs as high as 50 per cent on steel and aluminium. Mr Albanese was pessimistic when asked if there were was a scenario in which tariffs could drop below 10 per cent for Australia which has had a free-trade agreement with the US since 2005. 'The 10 per cent baseline has, of course, been applied across the entire line and what I won't do is do what some have done in Australian politics, or formerly in Australian politics have done and make grand declarations prior to any meeting taking place,' he said. 'I will put forward Australia's interests respectfully, because it is also in the interest of the United States for Australia to be treated appropriately. 'The discussions that I've previously had with President Trump were constructive, but those 10 per cent tariff supports have been the minimum that have been … applied right across the board.' Mr Albanese will also look to sure up the future of the $370 billion AUKUS defence pact which is under review by the Pentagon, stressing the contributions already made through a $500 million cash deposit as well as personnel already training on submarines and in maintenance yards. The Prime Minister made the comments in Seattle where he joined Amazon Web Services CEO Matt Garman to announce a $20 billion investment by the tech behemoth to expand its data centre infrastructure in Australia. Mr Garman said there was extraordinary demand in Australia for its cloud computing and artificial intelligence which helped launch domestic business success stories including Atlassian and Canva. The cash injection will expand the data centres already located in Melbourne and Sydney. In addition, AWS will build three new solar farms in Queensland and Victoria to help power the energy-demanding infrastructure. The business already invests in eight wind and solar farms in Australia and the 11 total once running are expected to generate about 1.4 million megawatt hours per year. Revealed: Twiggy's tax plan to win over wind farm critics Originally published as Anthony Albanese to meet with Donald Trump
