The latest report by the Australian Competition and Consumer Commission says the gas supply outlook for 2023 is very concerning and likely to place further upward pressure on prices.
The Federal government has been urged to consider intervening in the energy market, amid concerns of a gas shortage that could lead to higher prices, according to the latest report by the consumer watchdog.The projected shortfall could place further upward pressure on pricesThe Australian Competition and Consumer Commission has released an interim report of its inquiry into gas supply along the east coast.
"This is a significant deterioration in conditions relative to what we projected for 2022 at the same time last year and presents a real risk to Australia's energy security."that the government consider intervening in the market, by pulling what's known as the "gas trigger" to ensure there is enough supply.
"LNG producers will need to divert a significant proportion of their excess gas into the domestic market," the report stated.
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