is facing a gas shortage which could plunge the electricity market into a fresh crisis.
The Iona gas storage facility in Port Campbell has dropped to record-low supply levels due to high demand amid the state’s price cap.Market Operator warned of the risk of curtailment during peak demand. “AEMO has determined that there is a possibility that market or operational responses may prove insufficient to alleviate the threat. AEMO is considering all other possible options prior to intervening,” it said.Lochard Energy, which owns Iona, said “unplanned coal fired generation outages” and cold weather has increased demand.
“It is the case that gas supply and winter peaking capacity are becoming increasingly tighter on the east coast,” Lochard said in a statement. “This year, unplanned coal fired generation outages and especially cold winter weather have led to Iona customers starting to withdraw gas from storage earlier and in larger quantities than usual.”
It’s not a gas shortage. It’s a failure of Eastern States to implement a gas reservation mechanism. Government can cure this asap. After all, it is the common wealth. Not oil & gas companies property
Yet another Dan screw up!
If albo had a spine he would be taxing gas miners at at least same rate as ordinary citizens rather than give them tax holidays
We sold to Japan
We have an ethics shortage if Australians go cold because profits are better overseas.