Gas prices are set to remain high, despite an easing in fears over a domestic gas shortfall, according to the Australian Competition and Consumer Commission.
The ACCC said a combination of increased east coast production and lower consumption should ease some pressure on the market, particularly for commercial and industrial users in Queensland, but southern states will not get much relief from historically high prices. In its seventh report on east coast gas market since 2015, the ACCC found while prices offered by gas producers in Queensland for 2020 supply appear to have fallen, the prices offered by suppliers in the southern states, particularly by the"big three" retailers, have not.
Neoliberalism at its finest
Pfft of course, that's what happens under privatisation.