The competition watchdog has warned that the eastern seaboard is at risk of running low on gas a year earlier than it forecast in December, with major new supplies needed by 2027 to stop homes and businesses running short.
While forecast annual supply deficits have been brought forward from 2028 to 2027, the ACCC and the energy market operator have both warned of the risk of gas supply gaps in NSW and Victoria on days of peak heating demand during winter cold snaps. “Gas has an important role to play in our transition to net zero. The future gas strategy makes clear that we will need gas for some time yet to support renewable energy,” Resources Minister Madeleine King said on Thursday.
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