A clash between the states is threatening to derail a federal plan to ease power prices by imposing new rules on coal and gas, challenging Prime Minister Anthony Albanese to compensate states that lose out from the looming changes.
At stake is the revenue and profit for coal-fired generators that are owned by the Queensland government and could be hit by federal rules that try to shore up domestic electricity supply at a time of soaring global prices for coal and gas.“I say very clearly to the federal government: hands off our generators,” the premier told state parliament on Tuesday.
The federal government has raised expectations for an intervention in the energy sector after the October 25 budget said electricity prices would rise 56 per cent and gas prices would rise 44 per cent over the next two years.Albanese meets state and territory leaders next Tuesday night ahead of a national cabinet meeting on Wednesday to negotiate the plan, after he declared he wouldbefore the Russian invasion of Ukraine sent coal and gas prices soaring.
Resources Minister Madeleine King said price caps on coal and gas were an “option on the table” but the outcome was yet to be decided.Victorian Energy Minister Lily D’Ambrosio issued a more co-operative statement on the federal plans compared to the warnings from Queensland, saying Victorian households and businesses should not be paying European prices for gas.
NSW Treasurer and Energy Minister Matt Kean said “the federal government can and must provide a solution” to the rising cost of both gas and coal.“They can’t half fix a problem and pass responsibility for their issues onto others,” he said.
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