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Hysteria from the iMSM today:
Power bills for households are set to jump by 24 per cent from July 1, adding to soaring cost of living pressures as the national regulator blamed supply challenges and volatility and the government pointed to energy bill relief in the May budget.
The draft default market offer – which puts a price cap on what retailers can charge customers who have not looked for a better deal and remain on standing offers – was released on Wednesday morning.
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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.
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