Energy giants are making billions, are price caps enough? - ABC

Federal parliament is set to pass the government's caps on coal and gas, with the hope that sometime next year it will start saving households money.

But with estimates that multinational fossil fuel corporations could take away a whopping 140 billion dollar gross profit this year, is there more we could be doing to bring prices down? We speak to Alison Reeve from the Grattan Institute on whether the Government's going far enough to reduce our energy costs.Subscribe to ABC News Daily

Yes

Why doesn't the NSW government want to remove the NSW Pensioners 'Enenergy Supplement' 25% tax, for Pensioners living in NSW Housing/NSW Community Housing. This is taking $92 per year out of NSW Pensioners pockets, that should be used to pay their electricity and gas bills.

Nothing is actually lowered as claimed. It's all a lot of fanfare about making nothing cheaper.

No they are not but AustralianLabor is bought as much as LiberalAus and resources companies - globally - have been shuffling profits, paying little tax and buying influence for generations buyingthechiefsgetstheindiansforfree

It’s simply supply and demand. Prices reduce when you increase supply. Government has reduced supply by red tape, unreasonable environmental conditions, restricting approvals, restricting land access. Communism, price caps, more Government interference will make it worse.

More money for the executives.

The horse has longgggg bolted - this is the end result of privatisation of essential services. Fixing this mess is almost impossible without either monumental legislative changes or throwing an absurd amount of money into it. Neither will happen, and today's laws are a band-aid

Price caps are way too much!

Labor’s plan is to destroy the economy so we won’t need power, and cool the planet by 0.00001 degrees. It will be worth it. More communism makes the world gooder.

Make it less attractive to invest in fossil fuels and wonder why people don't invest in them. Have less power plants and wonder why the prises are going up? Go Figure?

We already know that tell us something we don't know .

I’d rather pay money to an energy company for reliable power than ABC employees for drivel and left wing opinions. I’m all for defundtheABC . A waste of tax payers money.

It’s so good how Labor are working for investors, unions and big business. Their climate targets will make us so rich by pushing power prices sky high to ensure the rich get richer and the people poorer. Best bit is people aren’t smart enough to see what’s happening. 😂👍💰💰

No, not really! Because hardly anyone is comprehending the situation we’re really in. Australia: A Fools Paradise! auspol

Aussie's also earn $billions in royalties from coal, what govt services are we willing to drop when we no longer have those royalties? It was not that long ago that some were saying coal was losing money. Easy fix, the industry needs to be run by the govt again so we get it all.

Privatising essential services was a mistake - not for the people who profit - but for consumers. Perhaps we need to vote for our own interests, instead of voting how Murdoch tells us. 🤔 If only we understood this for the past 30 years...

Energy giants are profiteering at consumers expense. Shareholders celebrate their huge profits as consumers left in tears with their energy bills

No .They should not be allowed to invest in Australia media where they can spurt their propaganda. They should be forced to pay levy for environment restoration and to subsidise education health and eradicate poverty.

Hang on...what was it last time!! ;) BreakfastNews

We Australians are just renters of our multinational owners. Should be the other way around... but here we are

Labor needs to start windfall tax as gas exporters r exporting our gas while paying NO TAX 10% windfall tax would be like GST on gas export

pretending to get the rip off under control is interesting

Albo If you can CAP Coal & Gas prices, why can't you CAP the price of ABC Wages POWER BILLS GROCERIES RENTS PETROL ETC ?

Yeah they might want to pay some tax every few decades 😒

Economics 101. Capped price means fall in production, higher prices for longer, the domestic market will struggle. First big blackout will be by mid-2024. PM, Treasurer & Energy Minister have never held a real job… union organiser, political staffer, MP. Ideology over reality.

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