The issue will be discussed at a national cabinet meeting on Wednesday, December 7.
The Australian government will decide on the introduction of a price ceiling on gas and coal for the domestic market on December 7. This was announced by Prime Minister Anthony Albanese.
The issue will be discussed at a meeting of the national cabinet. Albanese noted that if this issue is not worked out now, the cost of electricity will increase significantly for both businesses and households.
Anthony Albanese stressed that it is unacceptable that because of high electricity prices some companies close down and others make large profits. The Prime Minister of Australia said that the price of gas for all must be reasonable.
Australia's energy market was on the brink of a crisis this summer due to a shortage of coal and gas on the domestic market. Electricity prices in the country have increased by more than 80% since June 2022. Stocks of gas in storage were redistributed among the regions of Australia.
Later, the authorities acknowledged that the volume of fuel supplies for the domestic market refused to increase the local production companies, and there is no leverage to influence them.
In this regard, the Australian Cabinet of Ministers will consider introducing a price ceiling on electricity for domestic suppliers.