The Federal government has defended its move to cap the price of wholesale gas as major energy retailers report they can no longer secure supply from producers. Treasurer Jim Chalmers has warned producers they're being watched, to make sure they comply.
The federal government passed laws to impose price caps on wholesale gas, right before Christmas, and to enshrine a mandatory code of conduct which is yet to be finalised.
The federal government says the price caps will be reviewed in six months, to make sure they're working as intended.
It comes as energy retailers - including A-G-L stop taking new commercial and industrial customers, as they struggle to secure supply.
In the meantime, the government has promised to spend one-point-five billion dollars on energy bill relief, in the upcoming May budget.
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