The Australian government is considering extending the current gas price cap—that restricts wholesale prices—to 2025.
On April 26, the Labor government announced the final round of consultation on a code of conduct for the sector, which aims to lower gas prices for local consumers.
In December 2022, the federal government enacted a temporary price cap to tackle soaring domestic energy prices.
Under the measure, wholesale gas prices set by east coast gas companies were temporarily limited to a maximum of $12 per gigajoule.
The price cap is due to expire by the end of 2023. However, if the government goes ahead with the draft regulation, it will be prolonged by another two years….