Treasurer Jim Chalmers has expressed confidence in the government’s energy market intervention which he says will put downward pressure on price increases.
"We know the issue is supply. That is the one thing that will drive prices down,” he told Sky News Australia.
“What this Labor government has forgotten is the long-standing economic principle of demand and supply,” he said. “And the other piece that Australians need to understand is if we don’t continue to increase our supply in Australia we are actually chewing into our reserves.The Treasurer said the price cap will put downward pressure on the forecasted price increase, which will have flow on effects.
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