Forget Ukraine. Australia’s energy war on itself is worse

Thursday 4 May 2023

Well…if you have nothing but cartels and white shoe brigade politicians what do you expect? Welcome to your new power shock.

Spot prices in the NEM are up and away as winter demand begins:

These prices are above the retail bill increases we have seen to date so another utility bill shock is building as the Lidell Power Station shuts.

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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.