Australians are being told to expect stronger federal action to try to cut the cost of electricity and gas in a pledge from Prime Minister Anthony Albanese to toughen energy rules after the budget forecast a 56 per cent spike in power bills.
Treasurer Jim Chalmers has fended off calls for cash payments to households such as the energy rebates underway in the United Kingdom but said tougher regulation was being considered. The budget included further support for the Australian Energy Regulator and the Australian Competition and Consumer Commission but the decisions to act on prices – such as price caps – would need federal cabinet support and coordination with state governments.
The former Morrison government proposed the capacity mechanism but the idea was resisted by some state governments on the grounds it favoured fossil fuels when they wanted a faster shift to renewable energy.
CroweDM abc730 JEChalmers AlboMP AngusTaylorMP Matt_KeanMP AlanKohler High energy prices debated ad nauseam in Budget, ABC 7:30, Press Club, Question Time. No one has noticed that Centennial Coal sales have long peaked. Supplies Eraring, Vales Point power plants on Central Coast
CroweDM the talk is not going to get rid of the gouging from the retailors.....
CroweDM Talk is cheap, power bills are not.
CroweDM Power prices will only continue to go up under woke labor.
CroweDM