Bluescope steel smashed today on announcing their results - down 23%
Energy costs destroying their profits, read the article - its scary, energy costs up by nearly 100% in the last 36 months
The company is forecasting that energy prices - combining gas and electricity - will increase 75 per cent between the 2016 and 2018 financial years to an estimated $145 million.
In a presentation to investors, the company warns that baseload energy supply is in "crisis" and that current renewable energy technology is not able to replace it.
The reality is this is happening in every industry and sector in Australia, I have a large industrial client based in Victoria, 73% increase in their new recently tendered 24 month electricity supply contract - this is the hard reality of what our political leaders have let happen - no planning, no reasoning just blind faith in climate change and rushing way to fast to try to change everything and prove to the world how "special" Australia is and now the rest of the world laughs at our non competitive status and takes our jobs and our business as we just cant compete.
how does Bluescope or any other company impacted (and they all are) trim the budget - get rid of Jobs
who would ever invest in Australia - maybe Elton musk can pick up all the slack
http://www.canberratimes.com.au/bus...ns-earnings-set-to-slide-20170820-gy0hqp.html
BlueScope's energy costs
Electricity prices are expected to increase 93 per cent over two years
[COLOR=rgba(134, 134, 134, 0.7)]Electricity[/COLOR]
