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Chris Bowen ‘expects’ gas companies to comply with law
When asked if customers who are trying to get new contracts are being offered rates much higher than before, Chris Bowen said the government’s intervention would see the first year’s price rise come down from 20% to 18%, and the second year’s price rise come down to 4%. He added:
The gas companies are saying that they need to make sure they comply with the law, I accept that on face value … that is what they are doing.
And the government expects them, as the law provides, to supply gas at reasonable prices to Australian firms and individuals. I expect that to be the case.
Not at all, on the contrary. What we are seeing is some time, as we always said, for our wholesale cap to flow through to retail prices.
Of course you’re going to see, as we’ve always said, a little bit of time for the wholesale price cap to flow through to retail price caps.
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