The federal government is investigating ways to intervene in energy markets in order to keep prices contained, with fossil fuel price caps potentially on the agenda. However, state premiers have voiced their concerns about capping coal prices, and called for federal compensation if such measures start eating into state finances.
The federal government is investigating ways to intervene in energy markets in order to keep prices contained, with fossil fuel price caps potentially on the agenda.
Capping fossil fuel prices is a contentious issue, with state premiers voicing their concerns about the impact it could have on their state finances.
Assistant Treasurer Stephen Jones has urged the states to put their differences aside and focus on the shared goal of bringing down energy prices.
The government remains positive it can land a solution that will suit everyone at next Wednesday’s national cabinet meeting.
“Australian families and small businesses who are really doing it tough in this cost of living crisis Labor’s created, they are really going to want from their government a plan that can reduce power prices, electricity prices and gas”
Opposition Leader Peter Dutton
With Assistant Treasurer Stephen Jones urging the states to put their differences aside, it seems likely that an agreement will be reached at next Wednesday’s national cabinet meeting. It is clear that the federal government is committed to finding a solution that will work for everyone and bring down energy prices for all Australians.
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