Federal Labor prepared to compensate states in effort to drive down energy bills
by Katharine Murphy Political editor from World news | The Guardian on (#66HTA)
States would be rewarded for imposing cap on coal prices, but support not a blank cheque', treasurer Jim Chalmers says
The federal treasurer, Jim Chalmers, has confirmed the government is prepared to compensate the states for costs incurred as part of a looming regulatory intervention intended to reduce power prices during the first six months of 2023.
Any compensation would be conditional on the states imposing a temporary cap on coal prices, and Chalmers warned the financial support on offer will not be a blank cheque". The treasurer told the ABC on Tuesday there's not a bottomless pit of commonwealth cash to direct to the task".
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