15 December 2022 | Other

Australia imposes cap on gas prices despite industry protests

Australia’s officials decided to cap its domestic gas price, even with energy exporters speaking out against the new law. Such measures are aimed at bringing down rising power bills.

At Thursday's meeting, Australia's parliament approved a domestic gas price cap for the next 12 months. In addition to this, the price cap will also apply to domestic coal sales. With this move, mining companies could claim compensation if their gas and coal production costs are above the threshold. 

It proposed a gas price cap at 12 Australian dollars ($8) a gigajoule (a million British thermal units), which is above local prices but less than a third of international prices. The law also caps the domestic coal price at 125 Australian dollars ($86) per ton per year. Alongside this decision, officials agreed on a support package for low- and middle-income households through payments to states. 

Company MarketCheese
Period: 14.07.2025 Expectation: 945 pips
Delayed tariff implementation may push silver to $35.650
Yesterday at 11:10 AM 40
Period: 18.07.2025 Expectation: 1400 pips
Weak dollar may drive S&P 500 to 6,300
Yesterday at 07:34 AM 39
Brent sell
Period: 11.07.2025 Expectation: 400 pips
Brent falls ahead of OPEC+ decisions
04 July 2025 63
Period: 18.07.2025 Expectation: 900 pips
AUDCAD is likely to keep pulling back from its monthly high
04 July 2025 49
Period: 10.07.2025 Expectation: 1200 pips
Selling USDJPY during rebound with 142.430 target
03 July 2025 64
Period: 11.07.2025 Expectation: 220 pips
Heatwaves across Europe and US support gas price recovery from recent lows
03 July 2025 246
Go to forecasts