Updated: he federal government has asked the states to impose a price cap of $125 on every tonne of coal used by local power generators to support the electricity grid CroweDM | auspol coal
Britain and the United States will step up efforts to promote nuclear power as a “safe and secure” domestic energy sourceand to reach their net-zero commitments.
In a joint statement, Sunak and Biden said their new agreement would promote nuclear energy as “a safe and reliable part of the clean energy transition”.Advertisementon the national news blog today.For now, let’s take a quick look at the major headlines of the day: Federal Energy Minister Chris Bowen says he’s confident that the prime minister and state and territory leaders will be able to finalise a plan to tackle rising power prices when they meet on Friday.
Looping back to the Treasurer’s press conference quickly, and rising energy prices have obviously dominated conversation following the release of national accounts from the Australian Bureau of Statistics today.of a “responsible time-limited contribution” in Commonwealth cash for states that would lose revenue from tougher rules on the price and supply of coal and gas.
Our preference is to deal with these challenges via regulation, but we’ve said we’ve prepared to be reasonable when it comes to the Commonwealth budget as well. But the Commonwealth budget is not a bottomless pit of cash.
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Labor urging NSW, Queensland to implement $125-a-tonne coal price capThe Albanese government is urging NSW and Queensland to implement a cap on the domestic coal price of $125 a tonne - and is itself set to announce a cap on gas prices of $13 per gigajoule – in a bid to reduce power prices from a forecast 56 per cent increase contained in the October Federal Budget.
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Albanese govt calling on NSW and Qld to implement $125-a-tonne domestic coal price capSky News Political Editor Andrew Clennell says the federal government is seeking to get New South Wales and Queensland to “implement a cap on the domestic coal price of $125 a tonne”. He said the government is set to announce a cap on gas prices of $13 per gigajoule. “The federal government at the moment is offering no compensation to the states for implementing a coal price cap but saying that putting on a coal price cap is the states' responsibility,' Mr Clennell said. “The New South Wales government is not focused, as I understand it, on getting compensation for royalties. “They are focused on consumers and are aware that implementing a $125 per tonne coal price cap would mean they would have to compensate coal-fired power generators who have already contracted coal at a much higher price.” He also said the New South Wales government fears “coal companies could collapse” if they are forced to provide coal to generators at these prices.
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Federal govt to ask states to implement $125 coal price capSky News Political Editor Andrew Clennell says the government wants a coal cap at $125 per tonne and the states will be asked to implement the change. “There’s no suggestion in this plan, in this offer, if you can even call it that, of any compensation going to coal companies, generators, or states,” Mr Clennell said. “They are calling on the coal companies to just about halve their price.”
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Australia news LIVE: RBA lifts interest rates to 10-year high; Labor promises energy price plan before ChristmasHouseholds will have to absorb the sharpest increase in mortgage pain since the 1980s, Scott Morrison is preparing to appear before the robo-debt royal commission and the prime minister is hoping the states will put a cap on the price of coal.
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Australia news LIVE: RBA lifts interest rates to 10-year high; Labor promises energy price plan before ChristmasHouseholds will have to absorb the sharpest increase in mortgage pain since the 1980s, Scott Morrison is preparing to appear before the robo-debt royal commission and the prime minister is hoping the states will put a cap on the price of coal.
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