Australia’s federal and state energy ministers have agreed to amend the current energy laws to pave the way for short-term interventions in the energy market in an effort to bring prices down.
During a meeting in Melbourne, the ministers continued to progress reform areas agreed upon in the previous meeting in August as they were concerned that soaring international coal and gas prices due to the war in Ukraine were continuing to place pressure on domestic energy prices.
Specifically, the ministers agreed to make major amendments to the National Gas Law to grant new functions and powers to the Australian Energy Market Operator (AEMO)….