Australia’s parliament passed a new law Thursday capping its domestic gas price and some states’ coal prices, a move the government said would protect consumers from the “wartime whims” of the world. The move comes as tens of millions of Australians grapple with a surge in utility bills this year, despite the country being one of the world’s top coal and natural gas producers.
Strain on consumers As with many other countries, energy prices in Australia have spiked this year. In a report last month, the Australian Competition and Consumer Commission said the typical residential customer was already paying about 300 Australian dollars more a year for electricity than in 2021, an increase of 23%. “There are signs this will increase further,” it added.
They prefer shortages to high prices.
Great move, one for 10DowningStreet to look at, should be in place already
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