Hello from Renewable World where companies go broke, sack people and customers have no money to spend

Businesses are closing, customers are cutting back spending, company bosses are all suddenly spot trading experts in the energy market, or planning to become their own electricity supplier. Meanwhile scouts from the US have arrived to poach companies who want cheaper energy (and tax cuts).

Happy New Year Australia. These are all headlines and stories in The Australian from yesterday and today.

Cut power bills or lose more jobs: ACCC chief’s warning on energy costs

Glenda Korporaal writes:

Australia’s competition regulator, Rod Sims, who has been tasked with finding ways to cut power bills, has warned that high energy costs will force more plant closures and job losses as prices continue to increase.

“Energy affordability is Australia’s largest economic challenge,” the chief executive of the Australian Competition & Consumer Commission told The Weekend Australian.

“We have already seen jobs lost, investment reduced, plant closures (because of high energy prices). Unfortunately, we are going to see quite a bit more.”

Some businesses will be OK – like those that are not involved with fertilizer, paper, glass, steel, bricks, telecommunications or refrigeration:

He said the biggest pressure would be on manufacturing companies that […]