Australia’s PM Albanese announces price cap for gas and coal on Friday

Australian Prime Minister Anthony Albanese announced on Friday, a A$1.5 bln bill relief support for businesses and households on energy.

Additional takeaways

Announces price cap for gas at A$12 per gigajoule for 12 months.

 Parliament to be recalled next week.

Australia to set price cap for coal at A$125 per tonne.

Bill relief to begin Q2 2023.

Price caps on coal and gas to apply for 12 months.