Latest news with #AMEC
West Australian
2 days ago
- Business
- West Australian
AEMC announces new rules in retail energy market, limits price hikes to once a year
Electricity retailers will be limited to hiking prices on consumers once a year in a major shake-up to the country's retail energy market. The Australian Energy Market Commission announced the changes on Thursday, entrenching a sweep of new rules designed to protect consumers from price shocks. Retailers are now limited to lifting prices once a year and must ensure customers who sign up to a plan with a temporary benefit do not roll over to one that is higher than the default price. Further, there is now a ban on what AMEC calls 'unreasonably high penalties' for not paying bills on time, and a ban on fees, except for network charges, for vulnerable customers. Providers must also limit fees charges to reasonable costs for all other consumers. AEMC chair Anna Collyer said the new rules, which follow from requests submitted by state energy ministers in August last year, marked a 'significant milestone in consumer protection'. 'These reforms will help ensure that Australian households can have she said. 'For the first time, we have formally applied our updated equity guidance across these rule changes, explicitly considering how contract terms, benefits and fees may disproportionately impact vulnerable consumers.' She said limiting energy price increases to once a year would help households 'predict' their energy costs and avoid unexpected price rises across the year. The AEMC also announced a draft proposal to improve the visibility of the 'better offer message' that appears on energy bills. The regulator claims as many as 40 per cent of customers do not always open their bills and so miss important messages about potential savings. The draft rule would require retailers to present better offer messages in cover emails and bill summaries. 'The primary opportunity is visibility – ensuring customers know when better deals are available to them,' Ms Collyer said. data insights director Sally Tindall said the changes were 'a step in the right direction' but more needed to be done to 'lift the clouds of confusion that hang over our electricity bills'. 'The new rule to limit price hikes to just once a year is a fantastic measure that will give Australians greater confidence when comparing their options,' she said. 'It means that Australians will be more likely to be comparing apples with apples when they do their research, particularly if the majority of retailers opt to implement any price hikes in July in line with the reference price changes. 'Right now, Australians looking for a competitive deal on their electricity plan really need to be checking on their rates at least once every six months. 'Limiting the number of price hikes to just one a year could reduce the need to check on your bill, freeing up time to focus on other expenses.' The new rules come into effect from July 1, 2026, giving retailers 12 months to implement them.
Perth Now
2 days ago
- Business
- Perth Now
Huge change to impact your electricity bill
Electricity retailers will be limited to hiking prices on consumers once a year in a major shake-up to the country's retail energy market. The Australian Energy Market Commission announced the changes on Thursday, entrenching a sweep of new rules designed to protect consumers from price shocks. Retailers are now limited to lifting prices once a year and must ensure customers who sign up to a plan with a temporary benefit do not roll over to one that is higher than the default price. Further, there is now a ban on what AMEC calls 'unreasonably high penalties' for not paying bills on time, and a ban on fees, except for network charges, for vulnerable customers. Providers must also limit fees charges to reasonable costs for all other consumers. AEMC chair Anna Collyer said the new rules, which follow from requests submitted by state energy ministers in August last year, marked a 'significant milestone in consumer protection'. Power bill increases will be limited to once a year under new rules from the AEMC: NewsWire / Brenton Edwards Credit: News Corp Australia 'These reforms will help ensure that Australian households can have she said. 'For the first time, we have formally applied our updated equity guidance across these rule changes, explicitly considering how contract terms, benefits and fees may disproportionately impact vulnerable consumers.' She said limiting energy price increases to once a year would help households 'predict' their energy costs and avoid unexpected price rises across the year. The AEMC also announced a draft proposal to improve the visibility of the 'better offer message' that appears on energy bills. The regulator claims as many as 40 per cent of customers do not always open their bills and so miss important messages about potential savings. The draft rule would require retailers to present better offer messages in cover emails and bill summaries. 'The primary opportunity is visibility – ensuring customers know when better deals are available to them,' Ms Collyer said. Australian Energy Market Commission chair Anna Collyer said the changes would help protect consumers from price shocks. AEMC Credit: Supplied data insights director Sally Tindall said the changes were 'a step in the right direction' but more needed to be done to 'lift the clouds of confusion that hang over our electricity bills'. 'The new rule to limit price hikes to just once a year is a fantastic measure that will give Australians greater confidence when comparing their options,' she said. 'It means that Australians will be more likely to be comparing apples with apples when they do their research, particularly if the majority of retailers opt to implement any price hikes in July in line with the reference price changes. 'Right now, Australians looking for a competitive deal on their electricity plan really need to be checking on their rates at least once every six months. 'Limiting the number of price hikes to just one a year could reduce the need to check on your bill, freeing up time to focus on other expenses.' The new rules come into effect from July 1, 2026, giving retailers 12 months to implement them.
ABC News
28-05-2025
- Business
- ABC News
Shire of Coolgardie angers mining industry with 97 per cent rates hike
A cash-strapped regional shire in Western Australia's Goldfields is pushing on with plans to hike mining rates despite significant public backlash. The move has drawn the ire of industry titans in Perth and local prospectors. The Shire of Coolgardie, which was founded on the discovery of gold in 1892, has taken drastic steps since March when it revealed it was facing a $6.5 million budget deficit. The local government, colloquially known as "the mother of the Goldfields", was already dealing with an ongoing investigation into former CEO James Trail when it this month proposed raising mining rates by 119 per cent. The plan to increase the rate in the dollar for mining rates from 0.23667 to 0.52030 would result in increases for all operating mining companies and tenements within the shire. The proposal attracted 21 submissions during public consultation, with a further 179 submissions lodged in a petition. Objections flowed from major employers in the Goldfields, including companies controlled by mining magnates Andrew Forrest and Chris Ellison, and powerful lobby groups such as the Association of Mining and Exploration Companies (AMEC). At Tuesday's ordinary council meeting in Coolgardie, councillors voted in favour of a slightly reduced increase in the rate in the dollar of 0.46827. It equated to a 97 per cent increase in mining rates. Councillors also agreed to provide a 30 per cent concession for prospectors and a 25 per cent concession for exploration companies, reducing forecast rates revenue by $481,478. The shire has forecast rates revenue of $20.57 million in 2025-26, up $7.86 million from the $12.71 million forecast in 2024-25. Shire of Coolgardie president Mal Cullen had defended the proposed increase, telling the ABC the additional income would help cover the cost of a $10.4 million capital works program to repair roads damaged by increased heavy vehicle movements and mining activity in the past three years. "The reasoning behind the proposed increase is to maintain infrastructure in the shire, such as the road network," he said. "The cost of operation of local government these days is significant." Deputy shire president Tracey Rathbone said the shire had done its best under the circumstances, telling the packed public gallery at Tuesday's meeting that "voices have been heard". "It has not been an easy budget to work through," she said. The angry response to the proposed hike was reflected by the Eastern Goldfields Prospectors Association, which took out a full-page newspaper advertisement in Tuesday's edition of the Kalgoorlie Miner. The advertisement depicted the shire as the grim reaper and urged ratepayers to "stand with us", calling for the appointment of administrators and for Local Government Minister Hannah Beazley to intervene "before mining is destroyed". "We're upset, our members are ropeable they've been targeted to get the shire out of trouble," president Cranston Edwards said. "They just go to the mining industry for a quick fix, it's a like a drug addict … we've been attacked." Prospector Ferdinand Gere said the proposed rates hike was unrealistic and scandalous. Privately-owned gold miner, Corinthian Mining, said if approved, the rates bill on its tenements would jump nearly $300,000 a year to $511,534. The shire disputed that figure. Corinthian Mining managing director Noel Wemyss said it risked Coolgardie's reputation as a stable place to invest. Ms Beazley has been contacted for comment. Mr Ellison's Mineral Resources, which placed its Bald Hill mine near Kambalda into care and maintenance last year, has been working closely with the Shire of Coolgardie on plans to upgrade the Kambalda Airport. It said the proposed increases differed markedly from neighbouring local governments with no evidence-based rationale to justify the hike. In response to a similar comment during the council meeting's public question time, shire president Mal Cullen said each shire had different budget considerations to work through when drafting rate increases. Mineral Resources manager of land access and tenure, Michael Bycroft, said it would result in a $400,000 increase in rates, describing the proposed hike as "unfair and inequitable". Mr Forrest's Wyloo Metals, which closed its Kambalda nickel mines last year, wrote in its public submission to the shire that its rates bill would increase from $725,471 to $1.74 million as a result of the proposed hike. Wyloo's Kambalda asset president, Zoran Seat, noted the financial impact of the shire's decision to build a 328-bed workers camp in Kambalda, known as Bluebush Village. He said multi-million dollar losses from the effectively failed investment by the shire had directly contributed to its deficit. "We have serious concerns that the proposed rate hike is being implemented to raise funds to address the shortfall in finances the shire is facing, rather than as part of a fair or sustainable fiscal strategy," Mr Seat wrote. ASX-listed exploration company WIN Metals said its rates bill would jump from $299,000 a year to $511,000, which it described as "simply ridiculous". "The shire and its financial issues are entirely of its own creation," WIN Metals managing director Steve Norregaard said. A submission from AMEC chief executive Warren Pearce called it an "extraordinary leap", saying he was not unsympathetic to the shire's financial woes but "exorbitant rates" were not the solution. Mining giant Rio Tinto, via its general manager of technical services for lithium, Leigh Slomp, said mining growth was fragile. He pointed to a recent downturn in nickel and lithium as examples. "It threatens to severely undermine confidence in Coolgardie as a mining-friendly shire and ultimately reduce long-term revenue as companies reassess the attractiveness of operating in Coolgardie and its reputation as a stable place to invest," he said. Gold miner Evolution Mining, which this year completed a $228 million expansion of its Mungari operations, estimated the rates on its mining tenements would increase by $1.6 million to $2.8 million. Evolution Mining also owns the 100-bed Kurrajong Village in Coolgardie, with the company calculating the rates for the workforce accommodation would increase by $784,237 to $1.43 million. Mungari general manager Scott Barber said the increases would have lasting and long-term repercussions, adding the company would be asking the local government minister to intervene. ASX-listed Minerals 260 in January paid $166.5 million to acquire the Bullabulling gold project near Coolgardie. It plans to enter production in 2028 with a mine employing about 350 workers. Minerals 260 managing director Luke McFadyen said the proposed rates hike would deter investment in the region, reduce exploration activity and discourage the key industry which underpinned the local economy.
Yahoo
24-05-2025
- Climate
- Yahoo
Thousands without power in southwest Missouri
SOUTHWEST MISSOURI — As rainfall continues to pour through the area this weekend, hundreds are without power in the southwest Missouri area. According to City Utilities' (CU) outage map, 3,253 customers are currently experiencing power outages. 'Severe weather and high winds have caused outages in the northwestern part of town,' CU said early this morning. 'City Utilities crews are on-site and working safely and efficiently to restore power.' CU said that due to the number of utility poles that need to be replaced, they estimated at 6:46 a.m. that restoration repairs could take 7-8 hours. Those experiencing an outage please are encouraged to report it through City Utilities MyAccount at or by calling 888-863-900. Additionally, according to the Association of Missouri Electric Cooperatives (AMEC), these counties have seen a number of power outages: Greene County — 425 Douglas County — 753 Ozark County — 896 St. Clair County — 206 Christian County — 73 Dallas County — 65 Polk County — 56 This article will be updated throughout the day as rain persists. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Globe and Mail
22-05-2025
- Business
- Globe and Mail
AMEC Secures Dual First Place Rankings in 2025 TechInsights Semiconductor Supplier Awards Survey
SHANGHAI - May 16, 2025 - Advanced Micro-Fabrication Equipment Inc. China (AMEC), a leading global micro-fabrication equipment company serving customers in the semiconductor and adjacent high technology sectors, is proud to announce having won six awards in the 2025 TechInsights Semiconductor Supplier Awards. Most notably, AMEC has taken first place in the 'WFE to Foundation Chip Makers' and 'Deposition Equipment' categories. In addition to achieving the highest rating from customers in the referenced survey categories, AMEC also received the following four awards: Global Semiconductor Supplier Awards – Top 10 Customer Service – Focused Suppliers of Chip Making Equipment: Third place. Global Semiconductor Supplier Awards – Fab Equipment: Second place. Global Semiconductor Supplier Awards – WFE to Specialty Chip Makers: Third place. Global Semiconductor Supplier Awards – WFE to Foundation Chip Makers: First place. 2025 TechInsights Customer Satisfaction Survey Top 10 Customer Service Global Semiconductor Supplier Awards Since 1988, the TechInsights 'Annual Customer Satisfaction Survey' has been the only publicly available opportunity for customers to provide feedback on suppliers of semiconductor equipment and subsystems. In 2018 and 2019, AMEC was the only China-based company to be recognized in the prestigious list of winners; a list which includes leading companies from North America, Europe, and Asia. In acknowledging this noteworthy honor, Dr. YIN Zhiyao, Chairman and CEO of AMEC, emphasized the Company's deep appreciation for the recognition given by our customers and upstream/downstream partners. As Dr. Yin stated, the recognition serves as strong validation of AMEC's robust technological capabilities and exceptional commitment to service; qualities acknowledged by our customers and by our success in target markets. AMEC has consistently overcome complex technical challenges, delivering tailored solutions which meet the specific needs of its customers through brilliant innovation and unique product strategies. The Company is very proud to support its customers in achieving technological breakthroughs, production optimization and enhanced market competitiveness. Dr. Yin further stated that the Company will continue to focus groundbreaking efforts on the global technological frontier, while consistently refining and enhancing management capabilities. AMEC is committed to upholding its 'Five Big Ten' corporate culture and adhering to the three-dimensional development model to achieve high-speed, stable, healthy, and secure growth. The Company is laser focused on becoming a world-class leader in semiconductor equipment and high technology industries, both domestically and internationally. AMEC 'Five Big Ten' About AMEC: AMEC (SSE STAR Market stock code: 688012) is China's leading provider of process technologies, tools and expertise which enable global manufacturers of semiconductors and LEDs achieve their innovation, production, and profit goals. The CCP high—energy plasma and ICP low—energy plasma etching developed by AMEC, including more than ten types of segmented etching equipment, can cover most etching applications. The plasma etching equipment of AMEC has been widely used in domestic and international first—line customers, with numerous etching applications ranging from 65 nanometers to 5 nanometers and more advanced processes. In the past decade, AMEC has focused on developing various conductor and semiconductor chemical thin film equipment, such as MOCVD, LPCVD, ALD, and EPI equipment, and has made remarkable progress. The MOCVD equipment developed by AMEC for the production of LED and power device epitaxial wafers has already been put into mass production on the customer's production line and occupies a leading position in the global gallium nitride based LED MOCVD equipment market. In addition, AMEC is also laying out optical and electron beam detection equipment, and developing various semiconductor microfabrication equipment. These devices are key equipment for manufacturing various microscopic devices, capable of processing and detecting various devices at the micrometer and nanometer levels. These microscopic devices are the foundation of the modern digital industry, and they are transforming the way humans produce and live. In the past few years, AMEC has ranked third in the overall score four times in TechInsights' (formerly VLSI Research) global semiconductor equipment Customer Satisfaction Survey, with its thin—film equipment being rated first four times. Media Contact Company Name: Advanced Micro-Fabrication Equipment Inc. China (AMEC) Contact Person: Ellie Chen Email: Send Email Phone: +86 18516648912 City: Shanghai Country: China Website:
