Australia To Impose A Cap On Coal And Gas Prices

Australia has joined the club of countries imposing price caps on energy commodities with a ceiling on gas and coal prices, announced today by Prime Minister Anthony Albanese. The price of natural gas will be capped at $8.15 (A$12) per gigajoule and at $85 (A$125) per ton of coal and the cap will be in effect for a year. The government will provide additional support for coal miners who have higher costs than the cap, the Prime Minister also said. "Extraordinary times call for extraordinary measures, and we know, with the Russian invasion of Ukraine,…