Why the states want cash for Albanese’s gas price caps

on thermal coal and gas for domestic consumers is more about hard dollars than high principle.

But a Labor government that came to office promising lower energy bills only to be stymied by energy reality wants to show urgent progress given the alarming outlook for price increases outlined in Jim Chalmers’ October budget. After frantically searching for options, the idea of a price cap for domestic gas customers and contracts is now considered to be the least worst one by federal Labor – although certainly not by the industry.for domestic commercial and industrial users of gas.of both producers and retailers and investors, who all claim this will deter investment and create shortages, among other dire unintended consequences.

“Ultimately, it’s a matter for them to come up with those solutions,” Premier Dominic Perrott said. “, if one is introduced in NSW, the taxpayers of NSW would need to be compensated for that. That impacts our tax base.” All of this will be fought out at a meeting of premiers and the federal government in Canberra next week. The impact on energy prices, on different types of businesses and on the energy market overall of government interventions will take considerably longer to establish.describes the notion of a price cap – even if only proposed temporarily – as a “black mark” for the government that will undermine confidence there won’t be further changes in the rules.

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Albanese government requests states impose coal price capsThe federal government is facing a stand-off with the states over energy price caps as it tries to use a legal loophole to avoid paying compensation to coal producers. Sky News Political Reporter Joel Philp says it seems the government could avoid paying billions of dollars in compensation to coal producers for imposing price caps by asking the states to do it themselves. 'The Australian is reporting that the New South Wales and Queensland governments, that the request has been made of them,' he said. He is already on the way out So, after a couple of weeks working on the problem, the new Prime Ministers solution is to hand the problem to someone else? Seriously How about he stay in the country and focus on the real problems The muppets are officially in charge. When this blows up, as it must, ppl may yet realise Labor has no idea what it’s doing.
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Australian politics live: Albanese ‘confident’ of reaching agreement on a plan to ease energy costsFollow live
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