Drums beat for govt intervention as energy prices soar

Praying for rain is the only near-term option to solve part of the energy crunch. (Image: Getty)

Fri, 09 Aug 2024

The major electricity companies will be heading into the coming reporting season with more trepidation than usual with the threat of government intervention once again rearing its head.The profits of the major generator/retailers are always a hot political topic and always bring back to the surface the debate about whether they are excessive and if gentailers misuse their market power to manipulate prices.This year, with wholesale electricity prices reaching record sustained highs due to low hydro lake levels and a shortage of gas, the pol...

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