The Australian government may extend the gas price cap, which currently limits wholesale prices, until 2025. The Labor government has launched the final round of consultation on a code of conduct, aiming to reduce domestic gas prices. The federal government had previously introduced a temporary price cap to control soaring energy prices, which is set to expire by the end of 2023. The proposed extension could last for another two years if the draft regulation is approved. The current measures have been effective in preventing a significant surge in price rises, according to Energy Minister Chris Bowen. The government has also called for feedback on the draft code of conduct, which includes two exemptions aimed at small gas producers and large producers who provide gas at a reasonable price. The proposal comes as the government expects to earn over $16 billion (US$10.57 billion) in tax revenue from gas firms in the current financial year, compared to $6.46 billion in 2021-22.