It does pose a question that Kevisi speaking regarding at the minute under current rules and policy and things change
Prime Minister has a massive energy price issue at his feet and he is stumbling. H wants lower prices but doesn't want to compensate .
Ant changes in STO agreement dates or redrafting of a new agreement may be impacted by any fed govt provisioning for future reserve of % of gas etc.
Basically noithing is locked in till it is locked in and meanwhile govt is still messaging to media green credentials to justify actions. hopefully that messaging is that they will have to pay compensation to producers but up to what level?
Govt is out of time and industry needs a decision otherwise productivity and employment are going to take a dive in all industry that uses energy let alone investment in gas industry
couple of quotes from media - google for full articles
"Prime Minister Anthony Albanese’s office has asked state governments whether they can recall their parliaments to put price caps on coal, sparking fresh legal advice which shows the Commonwealth has the power to enact the new measures but it would have to fairly compensate producers.
Albanese on Saturday said he hadn’t left it too late to intervene in the gas and coal markets heading into Christmas, despite state parliaments having already adjourned until February, but insisted “there are limits to what the Commonwealth can do on its own”."
"
The Albanese government has been considering an intervention in the gas market for months, but now believes it also needs to intervene in the coal market to make a meaningful effort to push down electricity prices and not overly distort the market.
Tony Wood, director of the Grattan Institute’s energy program, said the move to add coal had complicated the process and suggested the government could move on gas first. This is because putting a price on gas would only require regulating the short-term spotting market, while going after coal would likely involve intervening in long-term contracts.
“You could keep it narrow, relatively short-term and keep it to the gas,” Wood said.
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STO Price at posting:
$7.15 Sentiment: None Disclosure: Held
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