Households are feeling the heat from Australia’s sudden energy crisis, but is there an end in sight? 7NEWS
in 2017 in response to concerns that exports of liquefied natural gas from Queensland might one day create domestic shortages.
But the mechanism is unlikely to be effective in addressing the current problem, for two reasons. First, there are physical limits on getting gas awaiting export inAnd second, to the frustration of many gas customers, the mechanism can’t bring down prices, which are set internationally. It deals only with supply.
The decision to immediately convene a meeting of the national energy and resources ministers and the relevant agencies is the right first step, but only the beginning of a journey that will involve urgent and sustained reforms to the way Australia’s markets work.