The federal government is scrambling to close a deal after asking the states to cap the price of coal at $125 per tonne – less than half the market rate. auspol
on Friday after telling state leaders his government would put price controls on gas – with a draft cap of $13 per gigajoule – but would expect states to enact the changes in the coal market.
Chalmers said miners were gaining prices of up to $300 per tonne for coal due to the energy crisis caused by the war in Ukraine but that the federal plan aimed to help manufacturers and consumers. NSW Treasurer Matt Kean has tipped an increase in coal royalties from the $3.6 billion the state received last year.
“Prices will go up next year, but if we can make them go up by a little bit less, then we should try and do that.”Coal miners, meanwhile, could see their profits cut if they were forced to sell to the local market at $125 for an extended period of time. “He has the biggest budget in the nation and now is not the time for Jim Chalmers to be the Christmas grinch and to pass on billions of dollars in bills to NSW taxpayers.”
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