Authorities rolls out modifications to energy pricing guidelines
The Australian Power Market Fee (AEMC) introduced new guidelines in the present day that may bar vitality retailers from elevating costs greater than as soon as per 12 months for most individuals and take away charges for weak prospects, amongst different modifications meant to assist Australians discover higher vitality offers.
The chair of the AEMC mentioned: ‘These reforms will assist be sure that Australian households can have better confidence of their vitality plans.’ {Photograph}: Dave Hunt/AAP
Whereas the modifications don’t tackle the bottom value of vitality, the majority of most energy payments, they’ll present extra info for customers to make higher selections about their suppliers. The modifications embrace:
Clients can’t be charged greater costs for his or her loyalty and pays not more than the standing provide value if their plan modifications or expires.
The elimination of unreasonably excessive penalties for not paying payments on time.
Limit value will increase in market retail contract from greater than as soon as each 12 months.
Prohibit charges for weak prospects and restrict charges and costs to cheap prices for others.
The chair of AEMC, Anna Collyer, mentioned:
These reforms will assist be sure that Australian households can have better confidence of their vitality plans and that these experiencing monetary issue obtain acceptable assist.
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Up to date at 18.06 EDT
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A brief, non-exhaustive record of issues Albanese may do to enhance productiveness
With a lot discuss the right way to enhance productiveness within the financial system, Greg Jericho whistles up some trademark charts this morning to counsel 5 issues the federal government may do to assist.
Illustration: Greg Jericho
Greg suggests these may embrace slicing gas tax credit, growing analysis funding and discovering a technique to cut back the large however nonproductive funding in property.
Learn his full piece right here:
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Up to date at 18.14 EDT
Power minister says new energy invoice guidelines will make vitality system ‘fairer’
Chris Bowen, the local weather change and vitality minister, mentioned whereas the modifications to energy value guidelines aren’t a “silver bullet”, they’re a part of an ongoing course of to make the vitality system fairier. He advised RN Breakfast:
These are essential. I’m not going to fake that they’re a silver bullet, however clearly the state of affairs hasn’t been working …
We’re taking these steps in the present day as a part of a reform course of. The reforms I introduced yesterday and in the present day’s modifications are a part of an ongoing reform course of to make the vitality system higher and fairer for Australians.
There’s a requirement in the intervening time below legislation that your vitality invoice tells you whether or not you’re on the absolute best provide out of your retailer. Many, many Australians aren’t, and that’s not ok for my part.
Power minister Chris Bowen mentioned ‘many, many Australians aren’t’ on the very best energy deal. {Photograph}: Lukas Coch/AAP
Learn extra right here:
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Up to date at 18.06 EDT
Authorities rolls out modifications to energy pricing guidelines
The Australian Power Market Fee (AEMC) introduced new guidelines in the present day that may bar vitality retailers from elevating costs greater than as soon as per 12 months for most individuals and take away charges for weak prospects, amongst different modifications meant to assist Australians discover higher vitality offers.
The chair of the AEMC mentioned: ‘These reforms will assist be sure that Australian households can have better confidence of their vitality plans.’ {Photograph}: Dave Hunt/AAP
Whereas the modifications don’t tackle the bottom value of vitality, the majority of most energy payments, they’ll present extra info for customers to make higher selections about their suppliers. The modifications embrace:
Clients can’t be charged greater costs for his or her loyalty and pays not more than the standing provide value if their plan modifications or expires.
The elimination of unreasonably excessive penalties for not paying payments on time.
Limit value will increase in market retail contract from greater than as soon as each 12 months.
Prohibit charges for weak prospects and restrict charges and costs to cheap prices for others.
The chair of AEMC, Anna Collyer, mentioned:
These reforms will assist be sure that Australian households can have better confidence of their vitality plans and that these experiencing monetary issue obtain acceptable assist.
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Up to date at 18.06 EDT
Sixty firefighters reply to warehouse hearth in Sydney’s Marrickville
Three industrial items had been extensively broken in a fireplace within the Sydney suburb of Marrickville this morning, police mentioned. About 60 firefighters responded simply earlier than 3.30am to the blaze, the place they discovered a number of two-storey buildings on hearth.
The fireplace has since been contained and is below management, Hearth and Rescue NSW mentioned, and there have been no accidents. An official described the positioning of the blaze as an industrial space with just a few homes however no evacuations had been wanted to comprise it. One of many affected items is considered a clothes warehouse.
Components of Marrickville’s Cook dinner Street will likely be closed this morning.
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Up to date at 18.06 EDT
Chalmers nonetheless planning to ‘respectfully’ have interaction with Greens on superannuation tax reform
Chalmers has been touting the federal government’s upcoming financial roundtable in current days after promising to advance daring reform throughout a speech on the Nationwide Press Membership yesterday. He advised RN plans to carry collectively a roundtable to craft a “focused agenda” would assist Australia climate what he described as our “main financial problem”.
That features the federal government’s plans to alter the taxation on massive superannuation balances. Chalmers mentioned he would nonetheless search to interact with the Greens, telling RN:
I’ll respectfully have interaction with the Greens and with others within the Senate to go this laws. We did announce this coverage nearly two-and-a half years in the past. There was an election in between and we’ll have the mandatory conversations to attempt to see it handed.
Federal treasurer Jim Chalmers. {Photograph}: Dean Lewins/AAPShare
Up to date at 17.37 EDT
Chalmers says there have been some ‘restricted alternatives’ to get Australians out of Center East
The treasurer spoke to RN Breakfast this morning, saying the Australian authorities stays centered on the 1,600 individuals who have registered to attempt to get out of Iran, in addition to numerous Australians in Israel. Chalmers mentioned the Division of International Affairs and Commerce was working to make that occur, telling RN:
I do know that the completely excellent individuals of the Division of International Affairs and Commerce are working across the clock to get individuals out the place they will.
There have been some restricted alternatives to date, however they’ll be exploring alternatives by in the present day as properly.
Missiles launched from Iran in direction of Israel are seen from Hebron within the Israeli-occupied West Financial institution. {Photograph}: Mussa Issa Qawasma/ReutersShare
Up to date at 17.31 EDT
Good morning, Nick Visser right here to take you thru the day’s information. Due to Martin Farrer for getting issues began in the present day. Let’s see what Thursday has in retailer.
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Jim Chalmers is dreaming of huge financial reform. However is historical past on his aspect?
Jim Chalmers talked an enormous sport in his speech about financial reform yesterday, asking individuals to neglect their slim pursuits and contemplate the nationwide curiosity as a substitute.
However that, Patrick Commins argues, is an enormous ask in a risk-averse political local weather – beginning with the prime minister – when the battle over a comparatively minor tweak on taxing tremendous provoked uproar.
Learn his full article right here:
Treasurer Jim Chalmers. {Photograph}: Lukas Coch/AAPShare
Up to date at 17.15 EDT
Adam Morton
Watt confirmed he meant to place a “broader reform bundle” to parliament than the shelved plan to legislate to create an EPA and to legislate for a second physique, Surroundings Info Australia.
He mentioned the bundle would come with an EPA, however he had an open thoughts about its position, powers and scope. He thought it must also embrace nationwide atmosphere requirements – as really useful in a evaluate led by the previous Australian Competitors and Shopper Fee chair Graeme Samuel – however Watt mentioned he had not made a ultimate determination.
The federal EPA is a crucial means to an finish round environmental safety, however I believe we additionally want to have a look at: how is the system total going to work? And what could be the environmental requirements which can be anticipated? I believe we’ve really bought a greater probability of passing legal guidelines in the event that they take care of a broader vary of points.
On whether or not the revamp ought to introduce “local weather issues” into the atmosphere legal guidelines – as urged by Labor MP Jerome Laxale after Watt gave the North West Shelf gasoline processing plant in WA conditional approval to run till 2070 – the minister mentioned he was “not ruling something in or out”, however the authorities had positioned emissions discount necessities on heavy business by the safeguard mechanism.
The safeguard mechanism is a Coalition-era coverage that Labor revamped. It requires about 200 huge polluting services to scale back emissions depth by 4.9% a 12 months, both by onsite cuts or by paying for contentious carbon offsets.
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Up to date at 17.08 EDT
The EPBC reform practice is leaving the station, says Murray Watt
Adam Morton
Leaders from about 25 largely atmosphere and enterprise organisations will meet with the atmosphere minister, Murray Watt, in Canberra in the present day to offer their views on the right way to repair the nationwide atmosphere legal guidelines.
It’s the first assembly of stakeholder teams on the problem because the earlier minister, Tanya Plibersek, final 12 months delayed a dedication to rewrite the Surroundings Safety and Biodiversity Conservation (EPBC) Act till after the three Could election.
A promise to create a nationwide Surroundings Safety Company was additionally later shelved after Anthony Albanese scuttled a possible take care of the Greens following stress from WA.
Watt advised Guardian Australia the assembly would come with atmosphere organisations, enterprise teams, the mining business, city builders, renewable vitality corporations and first nations our bodies. He mentioned there was “very broad settlement that we desperately want change to those legal guidelines – they’re damaged”.
The aim in bringing all of them collectively is so that folks can hear one another’s views, somewhat than being one another in their very own corners, you realize, preventing.
The way in which I’ve described it to a few individuals is: the EPBC reform practice is leaving the station. We broadly know the place we wish to get to, however we haven’t but outlined the precise vacation spot, and there’s a chance for all of those teams to be concerned in shaping that ultimate vacation spot.
I need as many curiosity teams on that reform practice working collectively as potential, somewhat than individuals selecting to face on the platform, throwing rocks and shouting.
Murray Watt. {Photograph}: Mick Tsikas/AAPShare
Up to date at 17.08 EDT
Iran’s ambassador appeals to authorities to sentence Israeli assaults
Daisy Dumas
Iran’s ambassador to Australia has referred to as on the prime minister to sentence Israel for its assault on his nation, claiming that its nuclear program is a “peaceable measure”.
Talking with the ABC’s 7.30, Ahmad Sadeghi requested Australia, as a “pleasant nation” with which Iran is in “good relation”, to recognise that the Center Japanese nation has a proper to self defence after Israel’s assault.
Talking concerning the Albanese authorities, he mentioned: “They should condemn [Israel] … I ask them.”
He mentioned Iran’s nuclear program was a “peaceable measure” and, when pushed on whether or not Iran was creating a nuclear weapon, he referred to Ayatollah Ali Khamenei.
“In fact not. You realize it has been prohibited by our supreme chief,” the ambassador advised the host, David Speers.
Sadeghi didn’t give a straight reply when requested whether or not Israel had a proper to exist and mentioned that ought to the US grow to be straight concerned within the Israel-Iran battle, some 80,000 US personnel stationed within the Gulf area would “not be as snug as a lot as now”.
“The opposite the Islamic nations across the north, in Pakistan, in Afghanistan, in Iraq, in [the] southern a part of the Persian Gulf. All, if Iran could be attacked by the US, they’d not be silent,” he mentioned, earlier than urging Donald Trump to be “extra cautious”.
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Welcome
Good morning and welcome to our dwell information weblog. I’m Martin Farrer with the highest in a single day tales after which it will likely be Nick Visser for the majority of proceedings.
Iran’s ambassador has referred to as on Anthony Albanese to sentence Israel’s assault on the Islamic Republic. The request provides to the prime minister’s in-tray as he heads dwelling from an unsuccessful try to interact Donald Trump on tariffs, and considers his second time period agenda with parliament’s first sitting only a month away.
One of many huge items of unfinished enterprise from Labor’s first time period was the creation of an environmental safety company. To deal with the problem, the atmosphere minister, Murray Watt, is assembly leaders from about 25 largely atmosphere and enterprise organisations in Canberra in the present day to listen to their views on the right way to repair the nationwide atmosphere legal guidelines. Extra particulars arising.
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