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Energy Prices Likely To Be Subsidised

AUSTRALIA
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The Australian is reporting that the Federal government cabinet will finalise policies to help with rising power prices ahead of next Wednesday’s national cabinet meeting. It is expected that the government will attempt to lower costs through temporary energy price subsidies, as other options are too distortionary. Also, Shell is scheduled to announce a 6-year agreement today to provide more gas supplies to the east coast. Increasing supplies of energy was mentioned by RBA Governor Lowe yesterday as important in fighting inflation. (The Australian)

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The Australian is reporting that the Federal government cabinet will finalise policies to help with rising power prices ahead of next Wednesday’s national cabinet meeting. It is expected that the government will attempt to lower costs through temporary energy price subsidies, as other options are too distortionary. Also, Shell is scheduled to announce a 6-year agreement today to provide more gas supplies to the east coast. Increasing supplies of energy was mentioned by RBA Governor Lowe yesterday as important in fighting inflation. (The Australian)