Beach Energy Limited, page-627

From the same AFR article:


A spokeswoman for Energy Minister Chris Bowen said AEMO’s warning showed the “system work[ing] exactly as it should”.

“Today’s notice is about a potential risk, not a risk that has eventuated. AEMO and the market are taking steps to ensure the risk is mitigated ahead of time,” she said, adding Labor had worked hard to secure more supply.

Australian Pipelines and Gas Association chief executive Steve Davies said industry had been warning about gas supply shortfalls for half a decade, but that little had been done and now businesses were “being asked to pay the price”.

“The extreme lows in renewable generation, particularly wind yields, have meant gas-powered generation has picked up a significantly larger load to keep the lights on and ensure electric homes can remain heated,” Mr Davies said.

In the first 19 days of June, as much gas-powered generation in Victoria had already been used as over the entire last winter, demonstrating its importance, Mr Davies said. “But you can’t have gas generation without supply.”