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As parliament grinds back into life, the Albanese government is already deep in budget preparation mode, which means pretty much every interest group in the country lines up to lobby for their preferred outcomes. If you’ve been following the news since late last year, you will already know that gas producers are unhappy thatto try and achieve energy price relief for households and businesses.
The lobby group’s budget submission declares new investment is the key to rebalancing markets and putting sustained, downward pressure on prices.“Yet regulatory interventions announced by the government in December 2022—including a 12-month price cap on the wholesale market and ongoing regulation of prices through a mandatory code of conduct—have had immediate and damaging impacts on the effective operation of the domestic gas market and on prospects for future investment,” the submission says.
In addition to the observation about regulation, Appea is calling for a national carbon capture and storage roadmap, and to “keep the scope of the proposed Environmental Protection Agency consistent with its pre-election commitments” while streamlining approvals under the EPBC Act.
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