Key occasions
Good morning, Mostafa Rachwani with you, to take you thru the morning information.
Homicide cost
A 72-year-old man is predicted to look in courtroom in Brisbane immediately after he was extradited to Queensland and charged with the alleged homicide of his former accomplice virtually 28 years in the past. For extra, learn our story:
Rescued bushwalker Hadi Nazari will relaxation when he returns residence to Melbourne after 13 days misplaced within the Australian Alps however is eager to go for an additional hike, Australian Related Press experiences.
His cousin Hussain Ali instructed reporters outdoors Cooma hospital that he had tried to speak him out of one other trek:
When he’s utterly match and fantastic then we’ll see how he goes.
After we discovered him … he was eager to go for an additional hike. I used to be like, “No more hiking for you, that was it.”
Nazari was discovered by a bunch of hikers on Wednesday afternoon, close to Blue Lake within the Kosciuszko nationwide park, after he was final seen by pals descending the Hannels Spur path on Boxing Day.
Retail fuel costs start to ease, watchdog says
Sarah Basford Canales
Retail fuel costs are starting to ease however structural shortfalls in provide might emerge from 2027, a brand new report from the competitors watchdog exhibits.
The Australian Competitors and Shopper Fee’s newest report into Australia’s fuel provides, launched Friday, exhibits the outlook is combined, noting worth drops in fuel are nonetheless properly above the prices earlier than 2022.
The ACCC stated excessive worldwide fuel and oil costs – precipitated partly by Russia’s invasion of Ukraine – have been nonetheless retaining home provide prices excessive however costs below longer-term provide agreements had moderated.
The watchdog stated agreements within the first six months of 2024 for 2025 provide have been nonetheless two occasions greater than 2021 at about $14.70 a gigajoule. However the worth had lowered from the 2023 provide, which was about $12.10 to $20.40 a gigajoule and as excessive as $30 to $35 a gigajoule in some instances.
The power minister, Chris Bowen, stated the Albanese authorities’s introduction of an additional 600 petajoules of fuel into the east coast market throughout its time period had put downward stress on costs and secured east coast fuel provides till 2027:
We’re ensuring our power grid is dependable and dealing for Australians by delivering cheaper power with extra renewables coming on-line and fuel able to agency it when wanted.
Underneath the federal government’s fuel code, power firms are exempt from the value cap on fuel of $12 a gigajoule for the home market if they comply with provide commitments to the east-coast market.
The ACCC’s report stated the fuel code would have minimal affect on east coast fuel costs this yr however there have been vital provide will increase forecast from 2026.
The report famous, nonetheless:
Within the longer-term, additional vital volumes of further provide will probably be required to keep away from shortfalls.
Welcome
Good morning and welcome to our dwell information weblog. I’m Martin Farrer with the highest in a single day tales after which it’ll be Emily Wind with the primary motion.
The Australian Competitors and Shopper Fee has had a have a look at fuel costs and provide in a brand new report and, whereas it has short-term excellent news on the previous, it has some longer-term dangerous information on the latter. Extra on this in a couple of minutes.
Showers are anticipated to proceed for Sydney and Brisbane all through a lot of the approaching week however summer season isn’t over but, in line with the Bureau of Meteorology. This week south-east Queensland and jap New South Wales will probably be “tipping towards wetter conditions”, the bureau says.
And the rescued bushwalker Hadi Nazari will relaxation when he returns residence to Melbourne after 13 days misplaced within the Australian Alps however stays eager to go for an additional hike, a relative says. Extra on that quickly too.
