Energy giants who double as generators and retailers could be put under the microscope over pricing by the South Australian government, which is considering a royal commission or similar probe to identify price gouging.
“We haven’t looked at the vertically integrated energy providers yet ... what price are they buying their coal and their gas for and then what price are they selling their energy at,” Mr Koutsantonis told“Are they buying gas on long-term contracts at cheap prices and then ‘internationalising’ the price internally?“Every state has its own [pricing] commission or other powers to look at things like this.
The war in Ukraine has lifted coal and gas prices to historic highs internationally. The price movement has been a boon for Australian coal and gas producers which are enjoying strong international demand because of sanctions on Russia, but is presenting supply issues for some energy generators who say they are buying inputs at inflated prices.
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