THE SQUIZ
Low-income Aussies, including pensioners and the unemployed, will get temporary discounts on their power bills from April next year under a deal struck between the federal and state governments on Friday. Leaders hashed out the details during the delayed National Cabinet meeting, where it was decided that instead of cash handouts, there will be a $1.5 billion rebate package funded by the Feds and administered by the states. That’s because leaders are keen to prevent further inflation in the economy. The plan will leave those households $230 better off next year, but electricity prices will still be high, with a 56% hike expected across this and the next financial year. But as PM Anthony Albanese said on Friday, “extraordinary times call for extraordinary measures”…

SO, WHAT ELSE WENT DOWN?
Well, the price of coal and gas will be down… To do that, the federal parliament will be recalled on Thursday to pass laws imposing a cap on gas at $12 a gigajoule, while the NSW and Queensland parliaments will also meet to legislate for the caps on coal at $125 per tonne. That’s down from record prices of more than $300 a tonne that it’s been fetching this year. The hope is that will lead to a reduction in electricity prices too, but longer term, leaders are banking on their plan to speed up Oz’s uptake of renewable energy under an agreement struck last week. But not everybody’s on board… Leader Adam Bandt says the Greens won’t give their support if plans to give compensation to coal companies go ahead. And Coalition leader Peter Dutton says instead of price caps, the government should facilitate more gas supply into the market to meet demand. 

WHAT ELSE IS ON THE POLITICAL AGENDA?
Foreign Minister Penny Wong is leading a group of pollies – including from the Coalition – on a visit to the Pacific this week. She’ll be joined by Defence Minister Pat Conroy, the Liberal’s Foreign Affairs spokesman Simon Birmingham and Nationals’ Pacific spokesman Michael McCormack for meetings with the leaders of Vanuatu, the Federated States of Micronesia and Palau. If you couldn’t guess, it’s all to do with China’s growing influence in the region… Australia’s hoping to bolster its relationships with those countries after China’s similar attempts earlier this year following its new security pact with the Solomon Islands in April. In a statement, Wong says she hopes the trip will demonstrate Oz’s “enduring commitment to strengthening our Pacific partnerships and addressing regional challenges”. Missing from the itinerary? Fiji. It’s due to elect a new PM on Wednesday, and there have already been concerns the election outcome could be contested. Watch this space…