Shell Suspends Deals in Response to Australian Government’s Energy Price Controls

Shell Suspends Deals in Response to Australian Government’s Energy Price Controls
The logo of Shell at the company's fuel station in Saint Petersburg, Russia on May 6, 2022. Anton Vaganov/Reuters
Daniel Y. Teng
Updated:

Global energy giant Shell has suspended talks to supply gas to Australian businesses in response to the federal government’s contentious move to cap the wholesale price of gas and coal—effectively cutting into the profits of energy companies—an action supposed to lower retail prices for households.

Shell’s move comes amid a wave of opposition from energy companies to the new laws saying it does little to address the underlying supply problems affecting the market.

Daniel Y. Teng
Daniel Y. Teng
Writer
Daniel Y. Teng is based in Brisbane, Australia. He focuses on national affairs, including federal politics and Australia-China relations. Got a tip? Contact him at [email protected].
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