The Australian Labor government has said consumers would see energy bills eventually decrease as its gas and coal price caps take effect. This is despite reports indicating that many households will face steep price hikes in February.
As gas companies and energy experts are speaking up about the negative impact of the $12 (US$8.27) per gigajoule price cap on gas supply, Energy Minister Chris Bowen said the federal government interventions were working in markets that look at future prices.
“They have come down substantially, and that will flow through to the price increases we would have seen otherwise,” he told ABC radio….