announced by Energy and Climate Change Minister Chris Bowen, by seeking to heavily regulate the prices of all gas sold on the east coast domestic market on an ongoing basis.
“This is the single worst piece of energy policy I have seen anywhere in the world in almost 20 years looking at global energy markets, despite staunch competition from many other dreadful policies around the world,” said Mark Samter, energy analyst at independent firm MST Marquee. , would make gas produced and sold on the east coast market subject to a “reasonable price provision” that kicks in after the price cap on uncontracted gas that will be in effect through 2023. Price caps will also apply to thermal coal sold in the domestic market, at $125 a tonne.
Woodside Energy, owner of half the Gippsland Basin joint venture, has already warned that the price cap proposal has destroyed the confidence that both buyers and sellers need to complete gas sales deals that would keep the economy moving”.“The biggest victims by the end of the decade will be Queensland taxpayers again, and jobs along the gas value chain,” Mr Kavonic said.
Is that what the greenies want?
....clown world....
gas miners n AFR seem to think that price cap would finish off the gas future All gloom n doom They want the public to be ripped off Somehow we have to pay $40/Gj so that gas mining would be prosperous n attract capital
'Santos’ Narrabri project – spent on exploration and production.' should be written off It would be good if they dont go ahead
Terrible government this is becoming just hope Australians start waking up that this government does not work in our national interest
Sounds like the government is doing the right thing because the gas industry doesn’t like it. The people win!
Nationalise the lot
AFR disinformation.
Nonsense
Well that’s what we voted for
This is what happens when you have a Labor government in charge. They believe everything can be solved by government intervention.
The sequence of events is real simple: 1. Gas price cap 2. Gas supply declines 3. Electricity prices climb (* workers suffer *) 4. Renewables increase as they are more economically attractive 5. Rise of new energy Czars 6. People freeze and starve Bookmark this prediction…
Have a sook, etc.