The consumer watchdog has warned the local energy market may suffer a shortfall in wholesale supply as gas companies announce record profits.
Treasurer Jim Chalmers has put gas exporters on notice over a looming shortfall, urging them to “do the right thing by Australians” and ensure they offer any available supply to local companies that are struggling under sky-rocketing energy prices.
ACCC chair Gina Cass-Gottlieb said the consumer watchdog was “strongly encouraging” LNG producers to increase domestic supply or face market intervention. It is the largest projected shortfall since the ACCC began its long-running inquiry into the east-coast gas market in 2017. “This is more than enough gas to ensure that no shortfall occurs,” said Damian Dwyer of the Australian Petroleum Production and Exploration Association, which represents oil and gas companies.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasurer puts gas companies on notice as supply shortfall looms“[The ACCC] projects a significant gas shortfall for next year unless gas producers supply more of their uncontracted or excess gas to the domestic market,” Treasurer Jim Chalmers said. | micksfoley
Read more »
Major report predicts 'alarming' shortfall in Australia's gas suppliesThe Australian Competition and Consumer Commission has forecast a gas shortfall in the east coast market next year if excess supply is exported.
Read more »
Consumer watchdog warns of major gas shortage for 2023The ACCC is warning of a significant energy shortfall next year, and is pointing the finger at big gas companies.
Read more »
Not enough gas, higher prices, manufacturers shutting shop: Dire warning issued about gas supplyThe 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.
Read more »
Morning mail: property prices tumble, ‘alarming’ gas shortfall, Emma McKeon makes historyMonday: Five of the country’s eight capitals are reporting house price falls on par with the start of the GFC. Plus: the most ridiculous Australian reality TV shows
Read more »