The resources minister says analysis is being done about what price to cap wholesale gas atThe budget forecast power prices would rise by 56 per cent over the next two years
The details — described as "fluid" by one insider — could be unveiled as early as next week when the prime minister holds national cabinet, and Energy Minister Chris Bowen is set to meet his state counterparts. "And to be fair, some things that at one stage we might have thought not possible, maybe we need to rethink these."
Wait for the free market fanboi club to melt the fuck down over this one.....
Horrible precedent to set. If the government wanted to negotiate a higher royalty on gas, it should have done so prior to the investment decision (as WA did). This is just expropriation/ banana republic shit. It only benefits a few energy intensive industries.
We were sold the lie that we wouldn’t need our gas as renewables would take over. LNG was to be the worlds clean transition fuel in the short term before being obsolete. Green and indigenous groups are now working to block gas projects. Germany went full greentard, reap sow;
Anything that can reduce cost of living pressures on people would be warmly welcomed.
LNPvoterfail This is a good move! The gas oligopolists have deliberately created market failure to maximise their profits. Government funded export terminals allow them to export all of what we don't consume & lack of import terminals protects their market. Price caps fix the failure.
How could they? Communism is coming to Australia. Why can't Australian gas giants enjoy their hard earned big profits while Putin is weaponising gas?
just as soon as private business can be forced into it
Putting a band aid on Bowens multiple disasters
Why don’t they force State Premiers like Dan Andrew’s to lift gas drilling bans?
Remember the 'experts' saying closing down coal power-stations early won't drive up power prices, cause renewables are now cheaper/better & us dumbasses said, you sure about this.
Price controls are always a great idea. No negative consequences whatsoever.