I understand that. But as Crackpot has mentioned the future...

I understand that. But as Crackpot has mentioned the future prices of gas is looking good into 2023/2024.

Why the peak is interesting is the fact that there is a strong demand and supply is weak creating a perfect storm of a need to secure gas supply particularly in Victoria. If gas was $6/GJ there would be no investment in gas in Victoria and Esso would not have spent $400m on a new gas supply with indications that there is still plenty of need and that it would only tie them over the initial shortfall.

$10-$12/GJ (NPV of $400m-$900m for the base case gas supply) is the profitable business case for EMP like any company wanting to invest in new gas. Plenty of gas companies have said less than $10/GJ and there would be no investment causing further problems. Even the LNG business case was around $12/GJ.

Anyway I'd rather see prices peak and get interest in the gas sector than sitting below operational costs.

P.S. Gas hit $55/GJ ($11.6b NPV) this morning and we aren't even 2/3rds of the peak winter demand where the peak price last year was $58/GJ.