Market Chatter: Industry Body Supports Opposition Plans to Lower Gas Prices, The Australian Reports

MT Newswires Live

03-28

BRICKWORKS LIMITED-3.58%

Manufacturing Australia said that gas market reforms disclosed by the opposition in the Australian Parliament were in the national interest, according to a Friday report from the Australian.

The plan proposed by Peter Dutton, the leader of the opposition, seeks to lower gas prices to under $10 per gigajoule from over AU$14 per GJ and restrict exports of uncontracted gas into global spot markets.

The industry group said that competitively priced gas would support manufacturing in the country.

BlueScope Steel (ASX:BSL), Brickworks (ASX:BKW), Capral (ASX:CAA), Incitec Pivot (ASX:IPL), and Orora (ASX:ORA) are part of the body.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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