The Prime Minister has outlined his ambitious plan for a gas-led recovery out of the COVID-19 recession, issuing a strong ultimatum for the energy sector.
The Prime Minister demanded electricity generators develop a plan before April 2021 to fill a looming shortfall in dispatchable power due to the closure of the Liddell coal powerplant in the Hunter Valley. If private companies fail to deliver, he promised the government would build a new gas power plant to replace the Liddell power station. The Prime Minister said “if the energy companies choose to step up and make these investments to create that capacity, great, we will step back.
If not, my government will step up and we will fill the gap”. Under the gas-led national recovery plan, the Federal government will establish a gas distribution hub, a plan to unlock new gas supplies, investment in new pipelines and a ‘use it or lose it’ rule for gas licenses for companies sitting on reserves.
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