Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

It is complete nonsense that somehow the cap on gas and coal that we introduced in conjunction with state and territory governments, Labor and coalition, wasn't working. That's not what the Australian Energy Market Operator said on 28 April. They said:

… wholesale spot prices averaged $83 per megawatt hour (MWh) for the March quarter, down from $93/MWh and $216/MWh in the previous December and September quarters.

Our plan is working there. Similarly, the regulator, Clare Savage, said this on 20 April:

Our latest quarterly wholesale report—

for January to March—

shows forward base futures prices for electricity initially stabilised during the early part of 2023, and … remain well below levels observed in 2022.

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