PM’SP new threat to energy suppliers

ANTHONY Albanese has threatened to “take action” against energy suppliers if they fail to co-operate with government in an attempt to tackle soaring prices.

Last week Treasurer Jim Chalmers flagged intervention and regulatory change in the energy market, which Mr Albanese said would hinge on the co-operation of suppliers.

Government ministers have hinted they would like a solution, which could include tax reform or a price cap, by Christmas.

“We are all working to make sure that we get an appropriate outcome, but we want this to be cooperative,” the Prime Minister said.

“But that shouldn’t be read as we’re not prepared to take action if the energy suppliers are not prepared to co-operate here.

“We know that there’s been substantial increases in profits at the same time as families and businesses are hurting from the increased charges.”

On Thursday, Industry Minister Ed Husic said the problem facing Australia was not one of supply, rather of “glut and greed” from highgrossing gas companies, while Resources Minister Madeleine King flagged broad industry overhauls.

Meanwhile, Opposition Leader Peter Dutton has accused the government of mixed messaging over the issue.

Dr Chalmers told ABC’S Q+A on Thursday night that all options were on the table, including taxes for gas companies as well as direct assistance for struggling households.

But on Friday morning, Deputy Prime Minister Richard Marles told Sky News the government would not be “sending cheques to people”.

Mr Albanese echoed that sentiment later in the morning, saying handouts would put further pressure on inflation.