Power prices to surge

A report released by the Queensland Competition Authority (QCA) last week shows Ergon customers can expect significant price rises on their electricity bills.

The QCA report shows a typical family is facing, from 1 July, an increase of $429 or 28.7 per cent on its household electricity bill and a typical small business is facing another increase of $511 or 26.8 per cent on its electricity bill.

Contributing to the $429 increase for a typical family is a $395 increase in energy costs, a $63 rise in retail costs, a $37 rise in network costs and a $65 decrease in other costs.

The QCA report says the energy cost rise has been caused by higher gas and coal prices and uncertainties around the availability and reliability of coal-fired power plants and their impacts on the supply–demand balance in Queensland.

Despite the rise in general cost, the blow will be softened for those with solar panels.

From Saturday, 1 July, the solar feed-in tariff in regional Queensland will increase by 44.5 per cent to 13.441 cents per kilowatt an hour for power exported to the grid from eligible solar systems.

The ABARES Australian Crop Report forecasts total Australian winter crop production to fall by 34 per cent to 44.9 million tonnes in 2023–24 following three consecutive record production years.

ABARES Executive Director Dr Jared Greenville said early autumn rainfall in some major cropping regions including in southern Queensland replenished soil moisture levels and provided favourable planting conditions.

However, autumn rainfall in many places was lower than average and soil moisture levels have remained low.

“Winter crop production is expected to decline to 3 per cent below the 10-year average to 2022–23 of 46.4 million tonnes and yield prospects are forecast to be below average due to the expectation of below average rainfall for winter and spring.”

Dr Greenville said positively, high crop prices, good seasons and record farm cash incomes over the last three years mean many growers will stay in a strong financial position despite the fall in production.

“This will incentivise farmers to plant a crop this season while also allowing some growers to fallow a higher proportion of paddocks in dry areas,” he said.

“For the major winter crops, area planted to wheat is forecast to fall by 2 per cent to 12.8 million hectares and area planted to barley is forecast to increase by 4 per cent to 4.3 million hectares, largely because of the crop’s ability to withstand drier conditions compared to wheat and canola

“Looking ahead, a significant downside risk to the 2023–24 winter cropping season is the potential for an El Niño event and positive Indian Ocean Dipole to both eventuate this year.

“The development of an El Niño event is likely to result in below average rainfall across eastern Australia during the Winter cropping season.

“We are also expected to see a positive Indian Ocean Dipole which may suppress winter and spring rainfall over much of Australia and potentially exacerbate the drying effect of an El Niño.”

Ramping times at Hospital pass 7 hours