The Federal Government is considering introducing a gas price cap as reaches $35 per gigajoule.
❌ Because we export the majority of our gas (and then import it at a higher price), a cap alone won’t work.
✅ We need a reserve resource policy.
There will be a question to the Minister in Parliament House next week, on why we have no reserve resource policy.
Queensland’s former reserve resource policy meant most of the state’s electricity was coming from the world’s biggest power stations and had zero input costs – the coal was free, taken by law, by the government under RRP.
With the current gas prices that manufacturers are paying, that are up to three times higher than a year ago, we simply cannot compete with other nations. And this is driving up our cost-of-living pressures.
FULL MEDIA RELEASE:
Reserve resource policy the key to easing cost-of-living pressure