Sky News Political Editor Andrew Clennell says the government announced this morning their proposal to cap wholesale gas prices at $12 a kilojoule until “at least” 2025.
“The shock announcement was made this morning by the Albanese government that it is their intention to cap wholesale gas prices at $12 a kilojoule until at least July 2025, this is an extension from the original cap which was introduced at a special sitting in December last year and was set to last until December this year,” Mr Clennell said.
“Gas prices are one of the factors feeding into higher power bills … Prime Minister Anthony Albanese came to power promising to cut electricity bills by $275 a year by 2025, largely through renewable energy. “The government is now proposing to cap the wholesale gas price for almost the entire length of their term in government.“The PM was defending it today, saying it was a consultation process on this first but, regardless, governments all over the world were taking extreme measures on gas prices given the effect on gas prices of the war in Ukraine.”
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