The Australian Competition and Consumer Commission has forecast a gas shortfall in the east coast market next year if excess supply is exported.
Treasurer Jim Chalmers says the latest gas inquiry report from ACCC highlights some "alarming" features of the east coast gas market.A major report into Australia's gas supplies predicts a significant shortfall next year as spiking energy prices heap cost-of-living pressure on household budgets.
The Australian Competition and Consumer Commission report, released on Monday, said the shortfall would occur in 2023 if all the excess gas produced by exporters was sent overseas. That resulted in the then-coalition government triggering the domestic gas security mechanism process and ultimately striking a deal with gas exporters to make excess gas available in Australia before it was sold overseas.
The shortfall prediction comes after coal generation in NSW and Queensland hit record lows, putting pressure on other energy sources.Some energy retailers are encouraging customers to leave amid the power crisis. Why is this?
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