Job losses, closures likely as power prices hurt industry

High electricity users face job losses due to inescapable high prices.

Fri, 14 May 2021

Further job losses are likely due to large energy users facing years of higher than average wholesale electricity prices, says the Major Electricity Users' Group (MEUG).Wholesale electricity prices have been above $200 per megawatt (MW) for some months due to lower than usual hydro lake levels and reduced gas supply. Last month, a number of large electricity users said they were stopping or reducing production because they could not afford the power to operate.MEUG chair John Harbord said the situation remained perilous for many of his...

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