Gas and coal prices will be capped, and relief is coming on energy bills. That’s what the federal government and the states have decided after today’s national cabinet meeting.
The prime minister, Anthony Albanese, announced a gas cap of $12 a gigajoule would be in place for 12 months, along with a mandatory code of conduct for the industry. There will be a temporary coal price cap of $125 a tonne and “nationally targeted bill relief”, under which the commonwealth will provide up to $1.5bn to the state governments to reduce power bills.
