Gas intervention good for jobs: Husic
Phillip CooreyPolitical editorMay 16, 2023 – 10.00pmIndustry Minister Ed Husic has taken issue with the growing chorus of complaint from the gas sector over arguing the measures are necessary to guarantee employers a supply of reasonably priced energy.
Mr Husic, one of the strongest advocates in cabinet for the temporary price caps on black coal and gas, and the imposition of a mandatory code of conduct, will tell the Energy Users Association on Wednesday that the intervention was for the greater national good.
the level of government intervention,
Industry Minister Ed Husic is unapologetic over Labor’s gas market intervention. Alex Ellinghausen
Cheap energy is essential to job creation, export earnings and the supply of vital products, he will argue.
“We must never lose sight of the fact that so much of what you do is underpinned by access to affordable, reliable energy,” he will say, according to speech notes.
”We know that high energy prices add to cost-of-living pressure on Australian families and businesses – in particular the businesses represented in this room where energy often accounting for around 30 to 40 per cent of total production costs.
Advertisement“Soaring electricity and gas prices are bad news, leading to price hikes, lost business and challenges keeping local operations running in a very competitive global environment.″
Mr Husic’s speech comes at the same time as the peak oil and gas lobby group, the Australian Petroleum Production & Exploration Association, is holding its annual conference in Adelaide.
The industry is locked in negotiation with the government over the mandatory code of conduct, which it fears will put in place a permanent price cap by allowing the government to mandate that gas be sold at “a reasonable price”.
The industry argues this will crush investor confidence and ultimately drive up prices.
Mr Husic will defend the code in his speech.
“Our objective is to make sure east coast gas-users can contract for gas at reasonable prices and on reasonable terms.
“We also want to make sure our gas producers can continue to meet their overseas contract commitments.
“That is vital to ensuring that the solution that we develop is fit for purpose, delivering fair prices and stable contracts that help to underpin the expansion of manufacturing in Australia.”
The gas industry was also targeted in last week’s federal budget via a $2.4 billion increase to the Petroleum Resources Rent tax.
Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@copyright link
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