Industry alarm at Labor pledge to toughen gas trigger

and make it easier to implement have been met with alarm by the industry, which claims it could damage investor confidence.

Not only would the trigger be extended beyond its expiry date of December 31, there would be an immediate and short review into its structure, lasting no more than “a matter of weeks”, to “make it work”. “Nothing is off the table with regard to the [trigger],” she said. “We will consider all options. We’ll do it as a matter of urgency so ensure that there are options available for the government.”

The crisis has been caused by a surge in international demand for gas caused by the Russian invasion of Ukraine, combined with the onset of winter in Australia and a shortfall in coal-fired capacity due to maintenance and supply issues.The prospect of the trigger being activated by price rather than supply rang alarm bells in the industry.

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