Forward prices for electricity have halved over the past two months, which Energy Minister Chris Bowen says points to the Albanese government’s unprecedented energy market intervention working, but experts say there’s a risk the cheaper futures market won’t flow through to household bills in full.
Price caps on coal and gas have caused the electricity futures market to plummet, raising hopes for cheaper power bill.“If this trend keeps up the energy price relief plan will be effective at shielding Australian businesses and households from the worst impacts of Russia’s energy price crisis,” he said.
“The price caps are effective and they are impacting prices in the way that the government had intended,” said principal and senior director of Schneider Electric Lisa Zembrodt, who advises large energy users.However, she questioned the long-term outcomes of the intervention and whether the futures price reductions will be reflected in the going rate for power in the short term.
Source: News Formal (newsformal.com)
What’s down this has been gas. Not coal. Wake the fuck up
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