“With the unemployment rates continuing to fall round the country, it would appear Australia is set to get a pay rise.
Now the fact of the matter is, a lot of you out there know it, you’re not getting a pay rise, you’re not seeing them.
If you’re a boss running a company – you know how tight it is…you try not to give the pay rise if you can possibly avoid it.
But it seems if the employment homers improve, and the unemployment rate continues to fall – Australia again will face a shortage of labour and that should drive up the wages” (Listen Here)
Newsletter – February 2 2018
This week I got to do something really, really cool.
I got an exclusive look inside one of the state’s most secret compounds – the nerve centre that controls our electricity supply.
I went inside The National Energy Market Operator.
For those who are a bit confused about the whole energy grid and what it means – let me break it down for you in some simple terms.
The energy grid as a whole is like a giant lake – a large lake which has many rivers flowing into it from all different directors and sources. At the same time, it’s got millions of streams that are taking the water out of the lake – some are little streams, some are massive, depending on where it ends up.
It’s important to remember, it doesn’t matter the different types of energy we have in this country – solar, wind, hydro, coal-fired, gas – it’s all energy in the end. Its just the amount each produce and at what cost that is different.
So, on a typical day – the lake is fairly full, each household uses a little bit, and businesses use no more than expected. There’s no issue at all.
The issue comes on hot days, when the lakes literally dries up because everyone is using extra power and there isn’t enough to keep up with demand – especially during peak times.
This is when we have blackouts.
This is also why large businesses, such as paper mills, aluminium smelters, manufacturing companies who use a lot of water are given incentives to power down and make sure they is enough water to go around.
But you see – this lake, every single drop of water, every single megawatt of energy for over nine million households – is controlled from one single room… and I got a first-hand look.
And I have to say again, it was really cool.
This room is the nerve centre of our electricity grid, and not only is it responsible for keeping the lights on, but also the energy bills down.
Firstly, from this room operators control over 300 power stations – wind farms, gas generators, hydro, even the new Telsa battery in South Australia, and coal-fired power stations.
From this room, operators can see every time you turn on a light and it is up to them to make sure there is enough energy for you to do that, make sure there is some water in the lake so to say.
But I was greeted by one special guest out at The National Energy Market Operator, and that was its boss – the lady whose job it really is to keep the lights on – Audrey Zibelman.
Now, I’ve spoken o Audrey multiple times on Money News, asking about the state of the energy grid and if it really will hold up over summer. But to actually see where the magic happens and to actually be inside and see just how truly complex the system is…it was incredible.
Audrey and I talked for quite some time and one thing really surprised me about her.
Yes, she wants to make sure we don’t have any more Blackouts like those in South Australia back in 2016 – she also wants to lower your energy bills.
And she let me in on a little secret to tell you all, the best way to reduce you energy bills for next quarter…
Turn off the lights and turn off the switches when you’re not using them…it’s as simple as that!
Another thing happened this week and that is property prices have dropped for thefifth month straight.
In Sydney alone, property prices are down three per cent. Now before you go thinking “the housing bubble has burst” – its three percent down after a near 75 per cent increase.
It’s definitely not as bad as the headlines make it seems.
Melborune is also seeing lower prices, recording a second straight month of decline – although both falls were just 0.2 per cent.
Brisbane and Adelaide continue to remain steady, with home price growth roughly in-line with inflation and wage growth, whilst Canberra and Darwin has slowed down dramatically.
But Hobart is doing very well for itself – it had a 1 per cent rise in prices over January and a 12.4 per cent increase over the past year.
Now, I can’t imagine this lasting too long I’m afraid.
Property prices were out and I got a first-hand look at what First Home Buyers think of the slightly cheaper Sydney market – Watch Here
Money News –
Rising inflation rates is not so good for our already tight pockets – Listen here
Work. Life. Money –
One of the co-founders of Pink Floyd, Roger Waters, joins me this week to shed some light on a very interesting career – Listen Here from Sunday
Interviews and Stories for the week