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Energy Cost Relief Unlikely To Be Felt Until Mid-2023

AUSTRALIA

The federal government has said that it will announce its plans to provide relief to small businesses and households from its projected +50% rise in power prices before Christmas. The Australian believes that it will be announced by this weekend but that the impact won’t be felt until the middle of 2023 and then it will just reduce the increase expected for FY 2023-24, according to the Grattan Institute.

  • There has been speculation that it will involve a coal price cap, regulations contained in a new code of conduct for gas producers and other regulations for the energy sector. There has been a lot of disagreement in how to provide energy price relief.
  • Key meetings this week include pre-National Cabinet on Tuesday followed by National Cabinet on Wednesday, an energy ministers’ meeting and federal cabinet meeting on Friday.
    - The Australian
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