The New South Wales Government has begun meeting with coal mining industry representatives as part of consultations on the future of the state’s temporary coal cap, which is set to expire on 1 July 2024.
The current system will remain unchanged until the expiration of the coal cap, but the State Government is considering options for after the cap’s conclusion, including modernising the coal royalty system to ensure it remains fit for purpose.
The consultation process includes inviting industry to provide written submissions by 11 August 2023, with the information from the consultations used to help inform the government’s priorities in the second half of the year.
New South Wales Treasurer, Daniel Mookhey, said that the consultations are critical to ensuring the right balance is struck for the people of New South Wales and key industry stakeholders.
“It is important to meet representatives of the coal mining industry and hear their views on the operation of the coal cap and the future of the sector,” Mr Mookhey said.
New South Wales Minister for Finance and Natural Resources, Courtney Houssos, met with industry representatives on 4 August. Ms Houssos said that the consultation was productive and, together with written submissions, will inform the government’s strategy.
New South Wales Minister for Energy, Penny Sharpe, held a meeting with representatives from coal power station operators.
Ms Sharpe said that the coal caps have played an important role assisting households and businesses with electricity costs.
“Understanding how the implementation has worked for power stations is important. I thank them for sharing their views as we contemplate future changes.”
