Sky News Political Editor Andrew Clennell says the federal government has been warned it must act prior to November if it is to implement energy price caps, in its attempt to prevent price rises of up to 50 per cent next year.
“The warning came from the Chair of the Australian Energy Regulator Clare Savage, at the Energy Ministers’ COAG meeting on Friday,” Mr Clennell said.
“According to sources at the meeting, Ms Savage also said that capping gas prices was not enough.
“She said that the high price of coal was responsible for the price of electricity 50 per cent of the time at present.”
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