OPEC leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, on Sunday effectively rebuffed ...

Oil surges to highest in four years

Oil jumped more than 3 per cent to a four-year high above $US80 a barrel after Saudi Arabia and Russia ruled out any immediate increase in production.

States back reliability mechanism

State governments have backed the implementation of the reliability mechanism from the now defunct National Energy Guarantee.

AGL slugged with $3m fine

AGL Energy is fined a record $3 million for failing to comply with Victoria state's energy efficiency regulations.