Colac’s major employers have taken a massive financial hit with energy costs more than doubling this year.
AKD’s Shane Vicary, Australian Lamb Company’s Dale Smith and Bulla’s James Downey manage three diverse industries but say they are all facing the same uphill battle with escalating electricity and gas costs.
They are pouring money into expanding their respective industries, which is vital to Colac’s economic stability, and are constantly looking at new ways to reduce energy costs.
But the three industry leaders would like to see the state and federal governments look at energy regulation and other ways to help industry tackle energy costs so they remain competitive on domestic and global markets.
Mr Vicary, who employs 400 workers at AKD, said business expansion could make “people think you’re making money out of it but actually it’s for survival”.
“You feel like you’re stepping forward with expansion and investment but any gains are offset by loss and you can’t pass it on if you want to be competitive.
“But we can’t offset it, we need electricity and gas and we’d welcome anything the governments can do to reduce energy costs for industry.”
For the full story see today’s Colac Herald.