Money

Power prices soar despite wholesale energy prices dropping

Published

10 months ago

July 27, 2023

ticker NEWS

Wholesale electricity prices in Australia have experienced a substantial drop of 59 per cent over the past year, according to the Australian Energy Market Operator (AEMO).

This decline comes despite households in eastern Australia facing an increase of up to 30 per cent in retail power prices.

The AEMO’s quarterly report attributes the fall in wholesale prices to several factors, including increased coal-fired electricity generation due to lower outages, the growing presence of renewable energy sources (like wind and solar), and improved market conditions.

On the retail front, customers have seen their power bills rise by 20 to 30 per cent in certain states since July 1.

Energy analysts explain that this rise is a delayed response to the wholesale price increases seen the previous year. While the wholesale price has dropped year-on-year, there was a 31 per cent increase between the first and second quarters of this year, partly influenced by weather conditions and transmission issues.

Despite the drop in wholesale prices, it may not immediately translate to lower retail bills, as the retail market operates a year ahead of the wholesale market.

Nevertheless, experts anticipate that the shift towards renewable energy sources will ultimately lead to greater stability and potentially lower prices for consumers in the long run.

Money

Why the meme-stock frenzy is unlikely to repeat

Published

6 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

6 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

7 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending