on Monday, Victoria is the only state in which a $40-per-gigajoule price cap on gas remains in place to keep a lid on soaring wholesale prices. The cap, which was triggered automatically at the end of May under Australia’s gas market rules, prompted NSW and Queensland to get more of their gas from the Iona facility, which is the largest independent provider of storage services to the east coast gas market.
“More visibility should mean, as it did in April [when the guarantee was last triggered], that gas goes to where it’s needed,” she said.In a statement released on Tuesday night, AEMO said gas producers and pipeline operators had responded positively to the request for additional gas supply. In a statement, owner Lochard Energy said Iona’s customers generally withdrew most of their gas in storage during winter and refilled it once the season had passed each year.
In 2019-20, for example, Australia produced 5945 petajoules of gas, of which 4393 petajoules, or 74 per cent, was shipped overseas. That left 1647 petajoules for domestic use, including power generation, heating and manufacturing,
Australians can rest easy knowing that our fuel, electricity & gas for life basics is in the hands of profit driven multinationals who can turn off the tap whenever it suits. While our new govt globe trots seemingly ignoring the significant life threatening issues in Australia.
No mention of Vic Govts banning of its own gas?
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