Businesses will need to cut their power use this summer or face supply interruptions, despite a reinstatement of some dormant gas-fired power generation, according to the Australian Energy Market Operator (AEMO).
Victoria’s Liberal and National parties have changed tack – and backed natural gas development.
If the chairman of the ACCC, Mr Rod Sims is right, then Australia is about to take the almost unprecedented step of interfering with export contracts to redirect gas to the domestic market.
Victoria’s irrational anti-gas stance may be starting to crack. This week the Federal Opposition Leader, Bill Shorten, urged Victorian Premier Daniel Andrews to “turn on the gas taps”, as The Australian put it.
This week’s renewable energy announcement by the Victorian Government sets the scene for higher electricity prices and more pain for businesses and consumers.
The Victorian Government is under pressure from all sides as it tries to justify what Federal Resources Minister Matt Canavan this week described as a “ridiculous, stupid” energy policy.