The NSW government will hike coal royalties by 2.6 per cent in 2024.
Treasurer Daniel Mookhey announced from July 1, 2024, the previous government's emergency domestic coal reservation measures, otherwise known as the price caps, will end.
Mookhey said he estimated the changes would put $2.7 billion back into the state budget between 2024 and 2025. He further said increasing the coal royalties would mitigate the impact of the $1.3 billion write-down in royalty revenue for this financial year, which the government will reveal in the upcoming budget.
"The advice we have received is that this will have nil to negligible impact on power prices," he said.
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