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Coal and gas cap complaints not ‘convincing in the slightest’: Chris Bowen

Climate Change and Energy Minister Chris Bowen says he doesn’t find the complaints from APPEA “convincing in the slightest” regarding the government’s coal and gas caps.

The government is set to meet in Parliament this week to put through a deal that will see gas prices capped at $12 a kilojoule and coal prices capped at $125 a tonne.

APPEA Chief Executive Samantha McCulloch spoke out against the government’s coal and gas caps, saying it will do the opposite of what is needed and destroy investor confidence.

Mr Bowen said he doesn’t think the argument will “hold any water”.

“This argument really goes to say ‘we believe we need profits as high as we can get during a war, during a global energy crisis for our industry to be viable’ – nobody is going to believe that because it’s not true,” he told Sky News Australia.

Climate Change and Energy Minister Chris Bowen says he doesn’t find the complaints from APPEA “convincing in the slightest” regarding the government’s coal and gas caps. The government is set to meet in Parliament this week to put through a deal that will see gas prices capped at $12 a kilojoule and coal prices capped at $125 a tonne. APPEA Chief Executive Samantha McCulloch spoke out against the government’s coal and gas caps, saying it will do the opposite of what is needed and destroy investor confidence. Mr Bowen said he doesn’t think the argument will “hold any water”. “This argument really goes to say ‘we believe we need profits as high as we can get during a war, during a global energy crisis for our industry to be viable’ – nobody is going to believe that because it’s not true,” he told Sky News Australia.

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