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Gas Producer Warns It Would Hold Back Investment With Price Cap

AUSTRALIA

Woodside Energy has said that the government’s proposed $11-13/GJ price cap on gas to control domestic power bills would result in it holding back its investment in the sector. The price level and the uncertainty these changes, even if temporary, would create make new investment uncompetitive. Chief executive O’Neill said that “the economics become significantly affected with pricing constraints in place.” Woodside supplies 20% of domestic east coast gas demand from Bass Strait. (The Australian)

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