none

ENERGY COSTS NEED TO GO DOWN, SAYS GLENCORE

03-08-2017
by 
in 

According to Glencore's global head, Peter Fryberg, Australia is headed for a crisis unless it cuts energy prices. 

Specifically, Fryberg places the blame on a combination of failing supply and misplaced government policy, arguing that clean energy restrictions were hobbling economic development. 

"If that means Australia needs to consider a possible delay in meeting its emission reduction targets under the Paris Agreement in order to prioritize energy security and economic prosperity, then its worthy of further discussion,” he said. 

Specifically, Fryberg would like to see Australia remove the Renewable Energy Target, and exempt all heavy industry from most clean energy measures. 

“Renewable energy has a role to play in Australia’s energy mix, but not at any cost and not at the expense of grid stability, reliability or other energy options,” he said. 

He feels that if renewable efforts continue to be pushed by the government, more energy plants will close, fewer replacements will open, and jobs will be lost across the country. 

His announcement comes closely on the heels of an announcement by the ACCC that small businesses had seen unduly high price rorting by energy companies. 

Electricity prices have risen over 80 percent for some businesses after the closure of the Hazelwood coal generator in March, alongside a similar increase in gas prices. 

 

Related news & editorials

  1. 22.02.2019
    22.02.2019
    by      In
    Early in 2018, Lifting Victoria was appointed as an authorised agent for Hyva, a leading manufacturer of truck cranes, and skip and hook loaders.
    Since the appointment, Lifting Victoria has experienced continued growth in providing truck crane installation services to clients across Victoria, but... Read More
  2. 21.02.2019
    21.02.2019
    by      In
    As information technology (IT) departments become more sophisticated and improve their identification and response to cybersecurity breaches, many manufacturing companies (particularly at the SME scale) are becoming more susceptible to cyber attacks via their operational technology (OT).
    According... Read More
  3. 19.02.2019
    19.02.2019
    by      In
    The adoption of artificial intelligence is rapidly growing in the workplace; however, to take full advantage of the opportunities, businesses need to overcome lingering doubts from their customers and employees, according to new research from Genpact, a global professional services firm focused on... Read More
  4. 19.02.2019
    19.02.2019
    by      In
    The 2018 needles in strawberries episode served as a warning to all of Australian industry: failure to take security seriously can have disastrous consequences. However, it also served to highlight just how vulnerable manufacturing industry is to malicious acts, whether by disgruntled employees or... Read More