Russia’s war on Ukraine has caused gas prices to spike, and the UK’s home power bills are expected to increase by 80% in October as a result. Europe is now experiencing an energy crisis.
In order to save power, cities in Germany have shut off the lights on historical landmarks, turned off fountains, and prohibited the use of hot water in public pools and sports facilities.
This winter Aussies have endured power bill increases of between five per cent and 20 per cent (stock image)
This winter Aussies have endured power bill increases of between five per cent and 20 per cent – but Mr Dutton has warned there could be worse to come if the government is not careful.
‘There’s talk in our country of rationing or of lights going out like we’ve seen in Germany,’ he told reporters on Tuesday.
‘The pressure you’re seeing on families in the United Kingdom at the moment. That’s essentially a picture to the future of what is going to happen here unless the government gets the policy settings right.’
Mr Dutton did not propose any policies the government should adopt, but slammed Labor for walking away from its election promise to reduce power bills by $275 a year by 2025.
‘It’s clear the government has no plan to help Australian families under pressure at the moment,’ he said.
‘That pressure is mounting. Petrol prices are about to go up by 22 cents a litre when they end the excise and there’s nothing here the government is offering by way of support to families at the moment.
‘Only excuses. They promised before the election they had a plan and they’ve never mentioned it since.’
In order to save power, cities in Germany have shut off the lights on historical landmarks, turned off fountains, and prohibited the use of hot water in public pools and sports facilities. Berlin Cathedral is seen.
To prevent widespread blackouts in Australia, the energy regulator was compelled to halt the national power market for a week in June.
In an effort to prevent any future domestic gas shortages, Australian Resources Minister Madeleine King last month opened up 47,000km of Australian waterways for fossil fuel exploration.
The long-term goal of the Australian government is for it to produce 80% of its energy from renewable sources, such solar and wind, by 2030. This would make Australia a powerhouse in the field of renewable energy.
At its meeting on Tuesday, the Reserve Bank of Australia’s board is anticipated to increase the official cash rate for a fifth consecutive month.
Another interest rate rise this month will result in greater payback for owners of variable rate mortgages, assuming banks pass on rate changes to clients.
According to RateCity statistics, a typical mortgage holder with a $750,000 debt and 25 years left on their loan would pay $922 more each month than they did in May before rates began to rise.
Opposition Leader Peter Dutton speaks during House of Representatives Question Time