It seems to me another example of a Victorian Premier that specialises in politics over people. If the anti gas announcements continue power prices will continue to increase for Victoria.
Whether you are a gas user or not removing gas from the market, reduces competition and allows electricity to set prices as a monopoly supplier. I acknowledge current gas prices are not improving competition but these are decisions that will impact for decades.
Removing gas / gas infrastructure withdraws opportunity for future supply of hydrogen gas to retail users.
Capacity upgrades of the current electrical infrastructure and new infrastructure will be required at very significant additional capital costs. It follows this will ensure continued rise in energy costs for all electricity users. This is additional to the capital cost we are currently seeing flowing through to accounts for the new infrastructure required to support wind and solar power.
Additional costs to industry, gas users or not, will put further pressure on profitability which in some cases will flow through to business closures and sadly employment. Large gas users face large conversion costs (in some cases prohibitive) others will be evaluating a move to hydrogen.
All IMO.
Thankfull that WDS operates in a wider market out of reach of some of the simplistic ideas of our current government ministers.
Looking to the continued important role companies like WDS play.
WDS Price at posting:
$38.02 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)