Global energy giant Shell has suspended talks to supply gas to Australian businesses in response to the federal government’s contentious move to cap the wholesale price of gas and coal—effectively cutting into the profits of energy companies—an action supposed to lower retail prices for households.
Shell’s move comes amid a wave of opposition from energy companies to the new laws saying it does little to address the underlying supply problems affecting the market.
On Dec. 14, the British multinational revealed that it had paused its Expression of Interest process to supply an additional 50 petajoules of gas to customers over the 2023-24 period….