“The problem has been in other states who haven’t been producing gas and that’s now created a problem, for southern states in particular,” Queensland’s Treasurer Cameron Dick said.
Queensland’s Treasurer has vowed the state will keep doing the “heavy lifting” for Australia in producing gas, saying the surging prices are a problem in southern states not producing enough, as he pre-empted cost of living relief in the state budget.
Wholesale power and gas prices have been increasing across the east coast as a result of several factors, including outages at coal-fired power stations and spiking commodity prices because of the war in Ukraine. A warning was issued this week for dangerously low reserves in Victoria, South Australia, and Tasmania.
“The challenge for us is not so much in the gas space because other than industry, a lot of our households aren’t dependent on gas for heating or other mechanisms like that,” Dick said.
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