, he announced that Treasury advice showed that Australians could expect increases in electricity and gas prices of more than 50 and 40 per cent over two years. This became, and has remained, a headline challenge.
In normal times, the market worked to deliver low-cost supply. But these are far from normal times. With the endorsement of Treasury, the government announced it would act, and now they have. Action was never going to be easy. In this tradition, the gas and coal industries of today have argued that the best answer to current high prices is more supply. And they warned that any price controls would bring investment in the sector to a halt just when it’s most needed. They also raised concerns about Australia’s international reputation as a reliable supplier. They refused to see that the alternative was untenable.
Finally, the Queensland and NSW governments recognised the fundamentally bad aspects of their position and dropped their ambit claims for compensation.
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Source: SkyNewsAust - 🏆 7. / 78 Read more »
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Source: SkyNewsAust - 🏆 7. / 78 Read more »
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Source: smh - 🏆 6. / 80 Read more »