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Energy crisis for Aussie businesses - rising costs must be addressed

30 November, 2017

The Australian Chamber of Commerce and Industry welcomes comments from Audrey Zibelman, Chief Executive Officer of the Australian Energy Market Operator and Energy Security Board member, that measures are being put in place to increase energy reliability this summer.

However there is still concern that they won’t address rising costs.

"Ms Zibelman said the cost of additional reserves, if drawn upon, would be borne by users. Paying extra in order to get through summer without loss of supply shouldn't be happening in a country with the abundance of natural energy resources that Australia has. It's an indication of the extent to which our energy infrastructure has been compromised" said James Pearson, Australian Chamber Chief Executive Officer.

"Many Australian businesses are already at breaking point due to rising costs.

"Our members are telling us that there will be job losses and business closures if rising costs are not addressed urgently.

"Business can't wait. We need action that will put downward pressure on prices."

Some 70 per cent of the electricity consumed is used by business.

The Australian Chamber calls on state, territory and federal governments to work together in a nationally coordinated approach.

"We need a national approach that will give the market confidence to invest," Pearson said.

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