Companies ‘looking down’ on energy surges: McKellar

The chief executive of the Australian Chamber of Commerce and Industry, Andrew McKellar, says companies are “looking down” on further increases in energy prices.

McKellar said businesses, particularly small businesses, could face increases of 13.5 percent and “increases in electricity prices above inflation in the next 12 months.”

“If we are going to counter that, if we are going to have a plan to make electricity prices more affordable, a couple of things are going to be needed,” Mr McKellar told Sky News presenter Chris Smith.

“Very significant investment in new power generation capacity, particularly renewables, will be needed, and more investment in the grid will be needed to modernize that infrastructure.”

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