General News
15 December, 2022
Webster slams gas move
THE Federal Government’s proposed intervention into the coal and gas market risked destroying investor confidence and jeopardise supply in the medium to long term, said Mallee MP Anne Webster.“After months of inaction and delay the Federal...
THE Federal Government’s proposed intervention into the coal and gas market risked destroying investor confidence and jeopardise supply in the medium to long term, said Mallee MP Anne Webster.
“After months of inaction and delay the Federal Government’s response to its broken promise of a $275 reduction in power bills is to step towards nationalising our energy industry – certainly on the east coast,” Dr Webster said.
“Meanwhile the Government has set aside $1.5 billion to fund consumer rebates for people on federal government payments but we still don’t have the details of how much support individuals will actually receive – that is the burning question for people in Mallee.
“The Government has had six months to develop a response to this crisis and here they are rushing legislation at the last minute.”
The Government’s intervention includes price caps in 2023 of $12 a gigajoule on uncontracted gas and $125 a tonne on coal in the east coast market.
It will also introduce ongoing controls on gas prices through a mandatory code, according to Dr Webster.