gas shortages

Melbourne wool processor fears soaring gas prices will wipe out this year’s profits

Reported by ABC, by Clint Jasper

A Melbourne-based wool processor says soaring gas prices are likely to wipe out any profits it will make this year.

Laverton North-based Victorian Wool Processors was almost forced to close its doors before Christmas, as it desperately searched for a company to supply it gas.

A last-minute contract means the company has remained open and the company’s 35 staff remain on the payroll.

But the company’s general manager David Ritchie told the ABC the new contract meant the price of gas had increased by 110 per cent between January and December 2016.

“To give you an idea, it works out at about $18,000 per employee with just that increase alone,” he said.

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