Many thanks for following Need to Know blog today. Here are some of today’s biggest headlines so far:

NSW to pay Origin up to $225m a year to keep Eraring open: Origin will pay the government a fifth of any operating profits up to a maximum of $40 million a year should the plant operate at a profit during the extension period.

Why NSW had to underwrite Origin’s coal-fired plant: NSW cannot afford to allow Origin Energy to shut Eraring Power Station, so it has offered up a generous insurance policy.

‘Let me finish the job’: Sunak’s gamble to avoid disaster: On the steps of Downing Street, a rain-soaked Sunak was drowned out by Tony Blair’s victory anthem. It was hard to see past these harbingers of imminent defeat.

Optus sued by regulator for breaches in 2022 cyberattack: The communications regulator has filed a lawsuit in the Federal Court claiming Optus did not protect customers’ information before it was struck by a cyberattack.

Furious Israel pulls funding after Palestinian state recognition: Tel Aviv will not transfer much-needed funds to the Palestinian Authority after three European countries decided to recognise a Palestinian state.