EAPI represents the average commodity price of retail electricity paid by Australian businesses based on a Standard Retail Contract (commences in 6-months and operates for 2½ years). Source Energy Action
Guest essay by Eric Worrall
Glencore and other major players in Australia’s mining and heavy industry sectors are threatening to shut mines and factories, and divert all investment elsewhere, unless Aussie energy prices fall back to internationally competitive levels.
Manufacturers warn of more Glencore type decisions
Australia will be denied new investment and will watch more of its refineries and smelters close unless the price and security of energy can be resolved, business leaders warn.
Speaking after Glencore warned it may shut its Mt Isa copper smelter and its Townsville copper refinery within a year, big manufacturers like BASF and the Tomago aluminium smelter respectively warned there was limited chance of new investment in Australia and that further job cuts…
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