Anthony Albanese has stepped in to try and broker a deal with the eastern states to cap coal, but chances of a final result this week appear slim.
Already troubled plans by the federal government to force down power prices have been thrown into further disarray after Prime Minister Anthony Albanese contracted COVID-19 and was forced to postpone Wednesday’s national cabinet meeting.to cap coal prices,The process was in limbo on Monday night upon revelations that Mr Albanese had tested positive for COVID-19 and there was no indication when he would next meet the state and territory leaders.
NSW argues this will require significant compensation in terms of lost royalties and contract losses. It also argues the Commonwealth impose the caps given it was its idea.“My position has been incredibly clear; we want to work with the Commonwealth government to put downward pressure on energy prices,” he said on Monday.
Premier Annastacia Palaszczuk, who has also been in regular contact with Mr Albanese in recent days, reinforced her demand on Monday that she would require full federal compensation for any dividend or royalty loss. “I haven’t changed my view that it’s a huge distraction from what we need to do. It just doesn’t add up. That’s essentially the problem. Every five years or so we have this economic analysis of whether nuclear power stacks up and every time it’s rejected.”
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