Chicken Chalmer’s energy price caps failing

Thursday, 2 February 2023

While Treasurer Jim “Chicken” Chalmers is busy writing 6000-word essays on how he will restructure markets, his one attempt at doing so is failing.

Power prices are nowhere near as low as they should be and trending higher:

As futures settle around $100, double pre-Ukraine prices and 80% above the fuel price caps:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.