Tag: gas price cap

Australian Government Considers Extending Gas Price Controls Until 2025

April 26, 2023
AustraliaBusiness & MarketsChris Bowenenergygas price capInternationalWorld
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The Australian government is considering extending the current gas price cap—that restricts wholesale prices—to 2025. On April 26, the Labor government announced the final round of consultation on a code of conduct for the sector, which aims to lower gas prices for local consumers. In December 2022, the federal government enacted a temporary price cap…

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Australian Manufacturers Criticise Gas Producers for Alleged Price Gouging Practice

February 9, 2023
AustraliaBusiness & Marketseconomyenergygas price capgas pricesWorld
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Australian manufacturers are calling out on gas producers as they believe the industry is withholding supply to circumvent the government’s price cap, effectively pushing local businesses to the edge of a shutdown. Following the federal government’s recent intervention, which caps wholesale gas prices at $12 per gigajoule, the east coast gas market was in a…

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Shell Resumes Gas Supply to Australian Market

January 24, 2023
ACCCAustraliaBusiness & Marketsenergygas price capInternationalshellWorld
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Global energy giant Shell has lifted its suspension on new gas contracts to Australian businesses a week after the competition watchdog warned it would penalise companies that breach the temporary gas price orders. Following a near six-week freeze on gas talks in response to the federal government’s emergency cap on wholesale gas prices at $12…

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Australian Government Says Energy Bills Will Drop Despite Sharp Price Rises from Retailers

January 19, 2023
AustraliaBusiness & MarketsChris BowenEd Husicenergygas price capWorld
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The Australian Labor government has said consumers would see energy bills eventually decrease as its gas and coal price caps take effect. This is despite reports indicating that many households will face steep price hikes in February. As gas companies and energy experts are speaking up about the negative impact of the $12 (US$8.27) per…

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Market Efforts to Lower Electricity Bills Made Harder by Price Caps: Industry Suppliers

January 17, 2023
ACCCAustraliagas price capInternationalJim ChalmersWorld
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Gas suppliers warned that the newly enforced price caps have made it harder for the industry to help bring down Australian electricity prices through “immense uncertainty” to investment in domestic supply projects. Samantha McCulloch, chief executive of the Australian Petroleum Production and Exploration Association (APPEA), said investment in new supply was the key to providing…

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