The Prime Minister says Australia is facing an “energy crisis” after it was revealed gas supplies are at risk of running dry over the coming years.
The Australian Energy Market Operator the major gas shortage could threaten the nation’s power supply in several states as early as next year.
It has predict widespread shortages in New South Wales and South Australia from Summer 2018/19, followed by Victoria in 2021 and Queensland from 2030.
It called on new development to be built to support more gas-powered electricity generation.
Federal Environment and Energy Minister Josh Frydenberg said AEMO’s projected gas supply shortfall is another reminder to states and territories, who are locking up gas with moratoria, bans and regulatory restrictions, to urgently rethink their position.
Prime Minister Malcolm Turnbull also blamed the states for the issue and has warned Australian’s could be affected by rising energy prices.
He will hold meetings with the chief executives of east coast gas companies soon to address the issue.