In the face of skyrocketing energy prices, Australia's competition regulator the ACCC is allowing a group of agribusinesses to jointly buy electricity and gas across an 11-year period.
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| ACCC allows energy-intensive food processors to jointly tender to bring down electricity and gas prices. |
Laws prohibit this type of cartel behaviour, but an exemption is granted if the benefit outweighs the detriment to the public.
Eight businesses have so far joined the Eastern Energy Buyers Group, including the large Rivalea pig farm, Australian Lamb Company, CSF Proteins, Diamond Valley Pork, Gathercole Group, Greenham and Sons, MC Herd Pty Ltd, Ridley Agripoducts, and Turi Foods and Farming.
One lamb processor told the ABC the plant's energy costs have skyrocketed this year alone, despite investments in solar power.
Read the ABC News story - “Energy cartel laws waived by ACCC for food processors desperate to reduce costs.”
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