Queensland Premier Annastacia Palaszczuk has taken a swipe at the federal government’s plan to ease power prices,indicating states may need compensation.
The Australian Energy Regulator says the high cost of export coal has pushed power bills up,but coal miners facing price caps lay the blame on gas and renewables.
The Greens have sought the buy-in of state premiers to back their push for a windfall tax on coal and gas giants to lower power bills,as the federal government eyes regulatory intervention.
With Victorian Premier Daniel Andrews calling for a domestic gas reserve,industry chiefs in Queensland and SA have lashed out at proposals that would require their states to bear the cost of a looming shortfall in the south.
Korea and Japan are highlighting the importance of steady trade as the federal government considers proposals for gas export controls to lower energy bills.
Australia’s largest miner expects a labour shortage and global energy crisis to continue driving up the costs of extracting commodities well into next year.
Soaring coal prices will keep power bills elevated even if the federal government intervenes to lower the cost of gas,according to industry and energy experts.
A federal budget without a cash handout was always going to be a tough sell for Jim Chalmers,so it’s no surprise the response to this budget is gloomy.
Polling shows 80 per cent of Australians strongly back a price cap on power to ease pressure on energy bills,while the treasurer flagged the measure as a preferred option to cash payments.
Jim Chalmers has signalled the government will consider strengthening the petroleum resource rent tax arrangements to collect more revenue from gas exporters.
Concreters,brick makers,steel fabricators and other energy-dependent local manufacturers are cutting staff bonuses,freezing pay rises and bumping up prices as soaring energy bills eat into earnings.