Competition watchdog examining energy market interventions including possible price caps

Retail and wholesale price caps on gas will be considered by the ACCC as it considers possible interventions in the energy market. Photograph: Bloomberg/Getty Images

The Albanese government will receive advice on possible interventions in the energy market as early as next week, including potential price caps, bargaining provisions for smaller energy users, and a legally binding code of conduct for the gas sector.

At Senate estimates on Thursday, the Australian Competition and Consumer Commission said it was preparing advice on a range of options for a new mandatory code of conduct for the sector, along with guidance on other “regulatory gaps” in the market.