Chicken Chalmer’s power shock intensifies

Monday, 20 February 2023

He’s off with the fairies, as usual. And while Treasurer Jim “Chicken” Chalmers fantasises about your well-being, it continues to get rapidly worse beneath his feet as Australia’s power shock deteriorates.

Last week the NEM averaged a new post-fuel cap high for prices, still double pre-Ukraine levels:

Power futures eased a little but are still double pre-Ukraine War as well:

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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.