Customers who don’t update their energy plans are paying about $317 more a year than those who shop around, according to an electricity price report released by the competition watchdog on Monday. Energy bills have been reduced nationwide, chiefly through federal and state subsidies, but the annual survey from the Australian Competition and Consumer Commission found that households prepared to switch providers were saving 17 per cent more than their loyal counterparts. ACCC commissioner Anna Brakey says customers who have not changed electricity plans in the past 12 months are probably paying more than they need to. Credit: Oscar Colman The gap was biggest in Victoria, where loyal customers paid about 19 per cent, or $291, more on their annual energy bills than those who switched providers. In NSW, the difference was 15 per cent, or $297, while South Australians saw the largest dollar-value difference at $334. Flat-rate offers in these states and South East Queensland dropped in the year to August, sliding 4 per cent on average. The cost of “time-of-use” offers, which charge different rates based on when customers use electricity, decreased by 5.5 per cent, while those on demand offers – pricing plans that charge customers based on the maximum amount of power they use during peak times – saw the least benefit. Australian Competition and Consumer Commission (ACCC) commissioner Anna Brakey urged customers to contact their electricity provider to ask if a cheaper electricity plan was available. “If you haven’t changed electricity plans in the past 12 months, chances are you are paying more for your electricity than you need to,” she said. Federal energy bill relief and rebates in Queensland, Western Australia and Tasmania also cut power bills. Electricity prices dropped 17 per cent in the three months to September, according to the Australian Bureau of Statistics. The reduction in power bills, along with lower fuel prices, were major reasons for the fall in overall inflation to 2.8 per cent in the September quarter . Excluding the rebates, electricity prices would have risen by 0.7 per cent. Treasurer Jim Chalmers said the commission’s report showed the government’s efforts to take some of the sting out of electricity prices were making a meaningful difference. “Our energy rebates are an important part of the story here, but not the whole story,” he said, noting the increase in people shopping around for a better deal, stronger competition between retailers and better conditions in international energy markets. It comes as the major parties spar over the future of the energy sector. Opposition Leader Peter Dutton has made the contested claim that his $331 billion nuclear energy plan would be 44 per cent cheaper over 25 years than Labor’s plan to transition to a system substantially reliant on renewable energy. Cut through the noise of federal politics with news, views and expert analysis. Subscribers can sign up to our weekly Inside Politics newsletter .Electronic Arts Inc. (NASDAQ:EA) Shares Bought by Larson Financial Group LLCA Russian opposition political activist has blasted Vladimir Putin claiming the war leader as "utterly failed" in his aims for the invasion of Ukraine and "already lost the war". During a fascinating debate on German broadcaster DW's Conflict Zone show , presenter Tim Sebastian asked Mr Vladimir Kara-Murza, who has been exiled from Russia , what would happen if Putin won the war. Mr Kara-Murza replied that "of course, in the most important sense Putin has already lost the war in Ukraine ", but Mr Sebastian countered that "some people would say he had already won". Doubling-down on his assessment Mr Kara-Murza continued: "No, he has already lost, because let's not forget his original aims in February 2022; he was taking Kyiv in five days, he was destroying Ukraine as a sovereign independent country that was able to make its own decisions in foreign and domestic policy, and on both of those counts very clearly, Vladimir Putin has utterly failed." Mr Sebastian pointed out Russian forces hold around 20% of Ukrainian territory, to which Mr Kara-Murza replied that the "goal was 100%". He added: "The goal was the destruction of Ukraine as a sovereign, independent state, of course what you're saying, that's exactly how the Putin propaganda machine will try to present it. "But he must not be allowed to get away with this because the only way to judge the outcome is to compare it with the original goals, he didn't take Kyiv in five days, he did not destroy Ukraine as a sovereign independent country, and it's very clear that he will not be able to." Tensions in the war between Russia and Ukraine have ratcheted up in recent weeks after President Biden lifted a ban on Ukraine to using Western-supplied longer range missiles to strike inside Kremlin territory. Britain's formidable Storm Shadow missiles are also now thought to have been used to strike inside Russian territory, but this has not been confirmed by the Ministry of Defence or Number 10. The UK is believed to have allowed its Storm Shadow missiles to be used by Ukrainian forces within the Kursk region of Russia , while the US has given permission for its ATACMS weapons to be fired at targets in Mr Putin's country. Meanwhile, Mr Putin confirmed Russia has tested the new intermediate-range weapon in an attack on Dnipro in Ukraine in response. The US said the weapon is an experimental, intermediate-range missile based on Russia 's existing RS-26 Rubezh intercontinental ballistic missile. The missile has a range which could easily bridge the 1,500 miles between Moscow and London.
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( MENAFN - Nam News Network) SEOUL, Dec 30 (NNN-YONHAP) – South Korea's joint investigation unit, said today that, it sought a warrant to arrest the impeached President Yoon Suk-yeol, over his martial law imposition. The investigation unit, consisting of corruption Investigation Office for High-ranking Officials, National Office of Investigation and the defence ministry's investigation headquarters, said in a short notice that, it requested the arrest warrant for Yoon at midnight, to the Seoul Western District Court. It marked the first time in the country's modern history, that an arrest warrant has been filed against an incumbent president. The unit asked Yoon to appear for questioning three times on Dec 18, Dec 25 and Dec 29, but Yoon's side refused to receive summons, while having yet to submit documents for the appointment of his defence counsel. Yoon was named by investigative agencies as a suspected ringleader on insurrection charge.– NNN-YONHAP MENAFN30122024000200011047ID1109040398 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
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Georgia has a new President and he is also a former Premier League soccer player. Georgia inaugurated on Sunday an ex-footballer turned far-right politician -- Mikheil Kavelashvili -- as Tbilisi's next figurehead president, after a controversial election process denounced as "illegitimate" by the current pro-EU leader, AFP reported. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for Picked by the governing Georgian Dream party as a loyalist, the former forward for English Premier League champions Manchester City is known for his expletive-laden parliament speeches and tirades against government critics and LGBTQ people. He was voted into the role by an electoral college controlled by Georgian Dream, after the party abolished the use of popular votes to elect the president under controversial constitutional changes passed in 2017. Kavelashvili was the only candidate and his inauguration came amid a major political crisis -- thousands of anti-government protesters have staged daily rallies in Tbilisi for a month, outraged at Georgian Dream for shelving EU accession talks. Minutes before he took the oath in parliament, outgoing pro-Western leader Salome Zurabishvili said she remains the "country's only legitimate president." For the first time in Georgia's history, the swearing-in ceremony took place behind closed doors in parliament. 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On Friday, Washington imposed sanctions on Ivanishvili, arguing he undermined the country's democratic future for Russia's benefit, the AFP report stated. Mikheil Kavelashvili Born in Georgia's tiny southwestern town of Bolnisi in 1971, Kavelashvili began his career as a professional footballer in the 1980s, playing for clubs in Georgia and Russia and becoming a striker for his country's national team. The 53-year-old played for Manchester City from 1995 to 1997, scoring on his debut against bitter crosstown rivals Manchester United. He then joined Swiss club Grasshoppers, where he spent most of his time on the bench, before stints elsewhere in Switzerland at Zurich, Luzern, Sion, Aarau and Basel. Kavelashvili was disqualified from running for president of the Georgian Football Federation in 2015 due to a lack of higher education -- a requirement for the role. He has served as an MP for Georgian Dream since 2016 and was elected to the legislature on the party's list in October 2024 polls that opposition groups say were rigged and have refused to recognise. FAQs Q1. When did Mikheil Kavelashvili play for Manchester City? A1. Mikheil Kavelashvili played for Manchester City from 1995 to 1997. Q2. Which clubs did Mikheil Kavelashvili play for? A2. After plying his trade in Manchester City, Mikheil Kavelashvili joined Swiss club Grasshoppers, where he spent most of his time on the bench, before stints elsewhere in Switzerland at Zurich, Luzern, Sion, Aarau and Basel. (You can now subscribe to our Economic Times WhatsApp channel )Mullen Automotive, Inc. ( NASDAQ:MULN – Get Free Report ) Director Ignacio Novoa sold 6 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $4,058.00, for a total value of $24,348.00. Following the completion of the sale, the director now directly owns 1 shares of the company’s stock, valued at approximately $4,058. This trade represents a 85.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link . Mullen Automotive Trading Down 9.4 % Shares of Mullen Automotive stock opened at $0.96 on Friday. The stock has a fifty day simple moving average of $2.15 and a 200 day simple moving average of $64.19. Mullen Automotive, Inc. has a 12-month low of $0.89 and a 12-month high of $1,799.00. Institutional Trading of Mullen Automotive An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. ( NASDAQ:MULN – Free Report ) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 11.71% of the company’s stock. About Mullen Automotive Mullen Automotive, Inc, an electric vehicle company, manufactures, sells, and distributes electric vehicles. Its products include passenger electric vehicles and commercial vehicles; and provides solid-state polymer battery technology. The company is headquartered in Brea, California. Recommended Stories Receive News & Ratings for Mullen Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mullen Automotive and related companies with MarketBeat.com's FREE daily email newsletter .