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The risks of increasing energy prices for business


Release Date: 28/02/2017

The Illawarra Business Chamber notes the increasing concerns and frustration of business in respect to rising energy prices and the potential for energy intensive businesses to relocate operations and jobs offshore.
 
Illawarra Business Chamber Executive Director, Chris Lamont, said there are now daily reports of the negative impact of spiralling energy prices on business and households. The latest report estimates the additional cost to energy users at between $10 and $12 billion per year.
 
“We need policies that boost the supply of energy to address declining affordability for both business and households. Moratoriums on exploration and the failure to coordinate renewable energy targets are clearly taking their toll,” said Chris Lamont.
 
The Chamber has renewed its call for policies that provide cleaner, more reliable and affordable energy for households and business and is conducting a business forum on Thursday, 9 March to hear and discuss energy policies and options to address declining affordability.
 
The forum will look at the impact of regulation on energy prices for business and households, provide an outlook on future energy prices and examine policy options to address the decline in energy affordability.
 
“We need solutions that allow greater use of renewable energy while at the same time containing cost pressures. Affordable and reliable base load energy is essential to business and therefore to maintaining and increasing employment opportunities,” said Chris Lamont.
 
Media Contact: Sharon Wingate 4223 0303



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