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Greens deputy leader Nick McKim says his party is willing to support the introduction of a cap on gas prices to reduce the cost of power bills but Labor must pivot away from fossil fuels and invest in renewable longer-term alternatives.

Speaking to RN Breakfast this morning, McKim said the Albanese government needed to offer incentives to home and business owners to install solar panels and battery storage systems and introduce heavier taxes for fossil fuel corporations.

Greens senator Nick McKim.

Greens senator Nick McKim.Credit:Alex Ellinghausen

“We’re very happy to work with Labor around legislation or regulation to get on top of spiking gas prices, but that will only ever be a short-term solution,” he said.

“We have the climate imperative, sitting over the top of everything and an urgent need to reduce Australia’s emissions and take a global leadership position in responding to the breakdown of our climate.“

McKim’s comments come as Climate and Energy Minister Chris Bowen is due to meet with state and territory energy ministers, the Australian Energy Market Operator, and the Australian Energy Regulator today to determine the government’s response to the ongoing energy crisis.

Among the options that might be considered by the government is triggering the domestic gas security mechanism to limit Australian gas exports.

McKim said the Greens would consider supporting the measure but it would be “a balancing act”.

“We’re happy to have a look that [but] we’re not convinced that’s going to make a meaningful difference in the short term and we want to make sure that whatever action the government takes is not actually driving longer-term use of fossil fuels in this country,” he said.

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