Chris Bowen has assured the proposed cap on coal prices would not lead to an increase in household energy prices as he slams the sector for its healthy profits while Australians were feeling the “sting”.
Energy Minister Chris Bowen has defended the government’s plan to ease the pressure of rising energy prices and has argued there is no alternative toThe government is set to place a price cap on gas at $13 a petajoule and request Queensland and New South Wales to impose a $125/tonne on coal as it closes in on its Christmas deadline to address soaring power prices.
The Labor government is expected to formally request Queensland and NSW impose a price cap on coal. Picture: NCA Newswire/Jason Edwards “On one level this is very complicated a lot of complicated policy parts but at another level it’s very simple, we can't let these power prices just flow through to the Australian people,” Mr Bowen told Sky News Australia on Thursday.
Energy Minister Chris Bowen said the Federal Government was trying to"take the sting out of" soaring electricity and gas prices. Picture: NCA NewsWire / Gary Ramage But Mr Bowen hit out at the suggestion and said it was “unsurprising that coal companies would say the answer is more coal”.
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