Big business is concerned about the effects of new green laws. 

The Australian Chamber of Commerce and Industry (ACCI) has warned that the country's government's safeguard mechanism deal with the Greens will cause energy bills to increase and weigh on investor confidence. 

According to the lobby group, the deal agreed last month has halted new gas exploration and development, which will result in higher energy bills for residential, commercial, and industrial energy users. 

The ACCI used written answers to the Liberal-led inquiry to argue that the agreement between Labor and the Greens was set to “add enormous uncertainty and greatly increase the sovereign risk associated with investment in energy production”.

In contrast, the Australian Competition and Consumer Commission (ACCC) boss Gina Cass-Gottlieb says that price caps and the safeguard mechanism will not stem investment or add to energy bill pain for consumers. 

She also says the emergency price cap does not apply to new supply and that there was adequate supply in the system for use on the east coast.

Resources Minister Madeleine King has disagreed with comments from gas lobby group APPEA, suggesting that the safeguard mechanism would deter future investment in energy in Australia. 

Coalition resources spokeswoman Susan McDonald, however, supported ACCI's concerns and highlighted the risk for industry and consumers through rising costs.

Reports say Origin Energy and Shell have resumed offering gas contracts to small business customers. The two companies confirmed they were offering gas to small industrial customers, and Origin has also signed some contracts for 2024 and 2025 despite the uncertainty about the pricing rules that will apply next year.