Australia news LIVE: Fallout continues over Commonwealth Games cancellation; power bills will remain high due to El Nino
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- Ex-Deloitte partner used confidential Defence documents to win work for his new business
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Summer to heat up power prices, cost-of-living pressures
Household power bills will remain at boiling point when the regulator resets prices next year as an El Nino weather system is tipped to prompt higher electricity demand this summer.
In an update to be released on Thursday, the Australian Energy Regulator reveals wholesale electricity prices – which retailers pay for power before on-selling it to customers – increased in the three months to June 30.
The regulator attributes the rise to the closure in April of AGL’s Liddell coal-fired power station in NSW and higher seasonal demand, which forced the grid to source more expensive electricity from gas-fired generators and pumped hydro.
Wholesale prices remain well below their record highs reached last winter, when breakdowns across Australia’s ageing coal-fired power plants and soaring fossil fuel prices spurred by the Ukraine war plunged the market into crisis.
The report says wholesale energy prices are set to remain elevated and have been revised up for the first half of next year, putting in doubt Labor’s pre-election claim that its climate and energy policies would cut household power bills by $275 a year by 2025.
Read more here.
Foreign student homestays floated to ease housing crunch
Encouraging families to rent their spare rooms to international students tax-free has been raised as an option to help relieve housing stress by members of a high-level panel chaired by Education Minister Jason Clare.
The Council for International Education, which is co-convened by Labor MP Julian Hill and has input from several cabinet ministers and industry heads, is mulling the idea as a post-COVID surge in student arrivals adds to pressure on an already strained rental market.
“Let’s be clear – international students are not the cause of Australia’s housing problems,” Hill said.
“That said, we must examine all ideas to expand and better utilise housing stock. Homestay for international students used to be a much bigger thing, and it’s a terrific option for people with a spare room to consider.”
Home Affairs Department data shows there were more than 587,000 arrivals of people on student visas in the year to May 31, compared to 837,000 in 2019 before Australia closed its border during the pandemic.
Read the full story here.
Ex-Deloitte partner used confidential Defence documents to win work for his new business
A former Deloitte partner leaked confidential Australian Defence department documents he obtained while working at the consulting giant to associates at a new business he founded and which was seeking to win its own military contracts.
Leaked emails reveal Canberra consultant David Milo used and shared documents he had previously accessed on major military contracts while in a senior role for Deloitte.Credit: The Age
Leaked emails reveal Canberra consultant David Milo used and shared documents he had previously accessed on major military contracts while in a senior role for Deloitte.
He shared the files with his new consulting firm, Synergy 360, which is at the centre of controversy over its ties to former Coalition minister Stuart Robert.
Read the full article here.
This morning’s headlines at a glance
Good morning, and thanks for your company.
It’s Thursday, July 20. I’m Ashleigh McMillan, and I’ll be anchoring our live coverage for the first half of the day.
Here’s what you need to know before we get started:
- A former Deloitte partner leaked confidential Australian Defence department documents he obtained while working at the consulting giant to associates at a new business he founded and which was seeking to win its own military contracts.
- Commonwealth Games authorities are pursuing “hundreds of millions” in compensation after the Andrews government cancelled the 2026 event in Victoria, according to a senior source with knowledge of the negotiations.
- Household power bills will remain at boiling point when the regulator resets prices next year as an El Nino weather system is tipped to prompt higher electricity demand this summer.
- A high-level panel chaired by Education Minister Jason Clare may encourage families to rent their spare rooms to international students tax-free to help relieve housing stress.
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