Gas companies have made a last-ditch attempt to win concessions from the Albanese government over its contentious energy price bill, which is now certain to pass the parliament after the Greens guaranteed their support
Gas companies have made a last-ditch attempt to win concessions from the Albanese government over its contentious energy price bill, which is now certain to pass the parliament on Thursday after the Greens guaranteed their support.
Bowen said the legislation would ensure the sting would be taken out of energy price rises - treasury modelling that has not yet been made public has estimated the new measures will shave $230 off the increase in power bills next year. Crossbench senators David Pocock, Jacquie Lambie and Tammy Tyrrell will also back the legislation.
Sources familiar with the talks, who were not authorised to speak publicly, said the industry was hopeful that the clause would be scrapped before it was put to parliament. Negotiations between Treasury officials and industry over the bill were continuing on Wednesday evening.Credit Suisse analyst Saul Kavonic criticised the “rushed” consultation period, which began only on Friday evening.
It followed a meeting between Prime Minister Anthony Albanese, King and the Australian Petroleum Production & Exploration Association on Wednesday, which King said was “constructive”. “But I’m very confident that they will meet their commitment to me and to the government. But also, it’s a commitment to the Australian people to make sure there is gas available,” King said.
“This attack on the gas industry will actively discourage further investment to find and develop additional sources of gas at a time when Australia is crying out for affordable and reliable energy.”
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