Great to see Australia’s East Coast gas customers helping Origin Energy offset a decline in gas exports (not). It’s terrific to know our record energy bills are helping Origin executive bonuses (not). What’s the scam?
The scam is that Origin has just handed down its 4th quarter results which confirm energy policy is a complete failure. Although prices for LNG exports fell 16%, Aussie consumers rode to the rescue, helping domestic gas prices up by 10% – and let’s not forget Origin executive bonuses too.
Meanwhile, the media somehow is still pushing the line that power prices jumped last year – and blaming it on renewables when rising fossil fuel prices are the culprits. In fact, wholesale prices were down 59% due to RE deflation, yet power bills are surging. The scam is the gas cartel is running roughshod over the government and the media is running a PR campaign for the gas cartel and Nine and News Corp ought to disclose their fossil industry income.
The @FinancialReview somehow misses a key point, @AEMO_Energy reports power prices are DOWN 59% year-on-year, and that power prices normally rise into the winter, quarter on quarter. I wonder what agenda the AFFR is pushing?! @PennySharpemlc
https://t.co/982rceS00H— Tim Buckley (@TimBuckleyCEF) July 26, 2023
Michael West established Michael West Media in 2016 to focus on journalism of high public interest, particularly the rising power of corporations over democracy. West was formerly a journalist and editor with Fairfax newspapers, a columnist for News Corp and even, once, a stockbroker.