Taxpayers will foot the bill for compensation costs mining companies will incur due to the government’s coal price cap scheme.
Mining giant Rio Tinto is expected to receive roughly $450 million for anticipated losses in 2023.
The move is set to anger the Greens Party and the crossbench who are opposed to compensation to fossil fuel companies.
It’s believed power stations across Australia’s east will be reimbursed if they’ve already paid for coal above the $125 cap.
It’s hoped the price cap will save households around $225 on power bills in the new year.
24 Comments
Duuuurrr🤪😂
Subsidies for coal. Vote Labor ?! Buy Chinese made Solar panels and Cars. Vote Labor!?
Bankrupt Australia in
3….2….1
Gosh, did not see that coming!!🤪🤡
But, but, but, the bills will be cheaper, won't they?????????????????
MAYBE DONALD BRADMAN AND HIS WAFFLE BAT COULD FIX THIS? HE IS AUSTRALIAN OF THE CENTURY OR SOMETHING!
Typical government! Many Australians have the super annuation funds enhanced from the profits of mining companies. So the government put a cap on their earnings, and then uses tax payer money to subsidise the loss of those earnings, go figure!
Bring on a windfall profits tax.
Make them pay tax.
NOW BRING ME RITA AND HER MOUF! IFEELH0RNI THIS MORNING!
What a surprise
For God so loved the world he gave his only begotten Son so that whoever believes in him will not perish but have everlasting life
We are thankful every we have lived fully of the power grid.
Not have to pay those very increasing power bills.
Also fun only just before Xmas the coal mining company were cry they were going to broke.
All a bunch of wankers
A Never Seen Imaginary Figure of Saving from a Price Cap which is Already Over Five Times it's Nominal Worth
Price caps don't work. The sound good but truth is they cause supply issues, you know the thing we already had.
Households maybe save money on an already higher than normal bill BUT Taxpayers are going to pay hundreds of billions to companies what's this " Yes Minster"
Once again Aussies are fooled,we must be the d#&@*st 💩s on earth.
Australian politicians are morons. Price controls, but Pay the energy companies anyway. And less supply of coal, gas, oil, & nuclear, as a solution to an energy shortfall…
Capitalist bloodsuckers sucking blood. Go figure!
Perhaps Twiggy could pay the Chinese major shareholders instead.
The Greens think they're right about everything. They never admit wrong about anything.
Another one of the Clown Shows, brilliant well thought out PLANS.
What's this an Albo SLIPPERY shuffle ?
Taxpayers /us , will foot the bill for compensation costs for the price cap on coal .
The same people who are suppose to get a reduction in electricity costs ?
Six the one half dozen the other ,take with one hand , give less with the other ???
So where is the relief from rising costs ????
Oh what a surprise. We just paid for it anyway. This is a joke and its time to clear out these politicians. We have been screwed again guys.
This was legislated by the greens.
Clown World!
🤡🌍🤡🌍🤡🌍🤡