As Queensland and NSW coal royalties surge, the energy export states are sticking to their demands for compensation if energy price caps reduce state revenue. auspol energy
Households will have to wait until July for the federal government’s energy reforms to cascade through to retail electricity prices in a timetable that assumes a national cabinet deal this Friday to guide regulators on new prices next year.
The default market offer is set by the Australian Energy Regulator over several months from February and defines the maximum price retailers can charge customers on standing offer contracts, with the changes taking effect in July. Treasurer Jim Chalmers went further late on Tuesday by saying the federal budget could help support the states as long as the payments were only temporary, seeing this as a better option than a tax on energy exporters.“We don’t want to go down the path of a tax outcome. We would prefer not to mess with our international contracts if we can avoid it, so that means the focus is on regulation,” he told the ABC.
The federal plan seeks to modify an existing code of conduct with gas exporters to impose tougher rules that are backed by federal regulation to require more gas be directed from the spot market to domestic customers, although this is not expected to reduce the delivery of gas to Japan,On coal, the government wants to curb high prices for local coal-fired power stations but is negotiating with the states over whether this should be done by state edict or federal controls that give rise to...
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