Australia delays energy price talks after PM contracts COVID




  • In Business
  • 2022-12-05 23:46:51Z
  • By Reuters
 

By Renju Jose

SYDNEY (Reuters) - The Australian government on Tuesday delayed a key meeting of federal and state leaders called to discuss measures to contain soaring power prices after Prime Minister Anthony Albanese tested positive for COVID-19.

The national cabinet was expected to meet on Wednesday, with Albanese looking to forge consensus between the states and Canberra on reducing energy prices, which have risen sharply due to Russia's war in Ukraine.

Albanese said the meeting will now happen virtually on Friday.

"What we're looking at is trying to act before Christmas, which is what we said we would do ... there's no actual delay in anything," Albanese told ABC Radio.

Albanese has said his government is considering price caps on gas and coal, but some states have pushed back as it could hit the revenue they make from royalty payments from coal producers. Queensland and New South Wales states have said they would seek compensation from the federal government for any revenue loss.

A poll done for the Sydney Morning Herald newspaper out on Tuesday showed about 79% of voters back any move to impose price caps on energy companies.

Albanese said he would work from home though Australia ended its mandatory home quarantine rule in October.

It is the second time Albanese has contracted the novel coronavirus. He was forced to quarantine at home for one week in April in the middle of a federal election campaign which his Labor party won.

Australian families are battling higher living expenses and to tame soaring inflation the Reserve Bank of Australia is likely to raise rates on Tuesday by 25 basis points to 3.10% - its third such hike in a row after a succession of half-point moves.

The opposition Liberal Party urged Albanese to reconsider the decision to postpone the meeting.

(Reporting by Renju Jose; Editing by Stephen Coates)

COMMENTS

More Related News

Australia prepares for thousands of Chinese students to return as relations improve
Australia prepares for thousands of Chinese students to return as relations improve

Australia is preparing for the arrival of thousands of Chinese students, the education minister said on Monday, days after China's education ministry warned ...

Stocks Mixed With China, Adani, Fed in Limelight: Markets Wrap
Stocks Mixed With China, Adani, Fed in Limelight: Markets Wrap

(Bloomberg) -- Stocks were mixed in choppy trading on Monday as investors split their attention between the reopening of markets in mainland China, the...

Pakistan govt lifts petrol, diesel prices by 35 rupees a litre
Pakistan govt lifts petrol, diesel prices by 35 rupees a litre

The decision came days before an International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth review of the...

Australia
Australia's Chalmers Looks to Revamp Markets, Institutions

(Bloomberg) -- Treasurer Jim Chalmers pledged to deliver "values-based capitalism" in Australia by revamping markets, renovating institutions and urging the ...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business