The Latest Breaking News from Tony Wood

As coal-fired power stations close down, there is a push for the renewables-rich state of Tasmania to become the "Battery of the Nation". The problem is, no one knows who will foot the multi-billion-dollar bill.

Inflation is soaring to new highs in major global economies and Australia is not immune.

Australian consumers may end up paying to extend the lifespan of fossil fuels unless a planned overhaul of the electricity market is handled carefully.

As the energy crisis continues to grip Australia’s east coast with consumers told to limit their consumption and warnings of blackouts Tony Wood, director of the energy program at the Grattan Institute, speaks with Michelle Grattan about why this has happened and what can be done to fix the system.