The state has dropped its demand that it be compensated for lost royalties and has instead sought Commonwealth assistance for consumers.
NSW has dropped its demand that it be compensated for about $100 million in royalties, which would be lost by a cap on black coal, and instead has convinced the Commonwealth to temporarily subsidise energy bills for households and businesses.
So much so that Prime Minister Anthony Albanese, who is sick with COVID-19, will negotiate directly with Queensland Premier Annastacia Palaszczuk when the national cabinet meets by video link.Advertisement NSW also wants compensation paid to any coal providers or generators that may lose revenue from the caps.
But the states, especially NSW and Queensland, say the issues are too complicated to reconvene their parliaments, draft and then rush through the coal cap legislation, as well as other laws to cover off on consequences such as legal indemnity issues.
“NSW did not need compensation for lost coal royalties as a result of the caps, however we did ask for financial assistance to support families and businesses as a result of doing what we need to do to support our country in lowering energy bills as a result of the illegal war in Ukraine,” he said.
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