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ABC News
ABC News
Business
energy reporter Daniel Mercer

Coal and gas price caps and whether they'll lower your energy bills explained

When historians look back at 2022, one of the defining features will surely be the sheer scale of an energy crisis almost unparalleled in modern times.

From the start of the year, when resurgent northern hemisphere economies put a rocket under coal and gas prices, to Russia's invasion of Ukraine that sent those prices into orbit, the past year has been a wild ride.

In a bookend to the drama, the national cabinet of federal and state leaders thrashed out a deal on Friday to shield consumers from the worst of the energy price fallout.

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