Australia’s power generators say there are no “preferable solutions” to address soaring electricity prices and business leaders warn market intervention can have unintended long-term consequences as the prime minister flags drastic measures.
including setting price limits on the cost of gas and coal supplied to power stations, cash handouts to bill-payers or new taxes on resources companies.Credit:Treasurer Jim Chalmers has said the government’s preferred form of market intervention is to cap the price of gas and coal sold to power stations, last week reiterating he was reluctant to impose a windfall profits tax and warning handouts would drive inflation.
“In this scenario, there are no ‘preferable’ solutions’,” chief executive Sarah McNamara said. “No approach is straightforward or without negative consequences, so governments should carefully weigh their options when deciding whether or not to intervene in the market.
Prime Minister Anthony Albanese said on Monday that other countries were taking unprecedented steps to address energy prices and he was prepared to do the same.“Whether that be in the United Kingdom or other countries, [they] are all taking action. Action that perhaps wouldn’t have been contemplated in what would be normal circumstances. I’ve said that we are prepared to take action.
NickToscano1 micksfoley The price of climate cult idiocy.
NickToscano1 micksfoley These objections will only come from privatized power company interests. No business having to use large amounts of electricity & gas would object to alternatives and certainly would not object to a preferable solution.
NickToscano1 micksfoley The latest renewable energy plan.
NickToscano1 micksfoley Coal ?
NickToscano1 micksfoley A good start would be to stop making the same mistakes whilst expecting different results. 'Renewables' are not cheaper and are much less reliable than traditional energy generation
NickToscano1 micksfoley Nuclear you giant gits