The Australian Competition and Consumer Commission (ACCC) has urged the federal and state governments to cut regulatory hurdles impeding new gas projects.

In its latest quarterly report on the east coast gas market, the ACCC forecasts a surplus through 2025 and 2026. However, it warns of looming shortfalls in peak winter periods in Victoria and New South Wales, with structural supply gaps expected across the east coast by 2027 unless new gas projects are developed.

Australian Energy Producers Chief Executive Samantha McCulloch has stressed the urgency for governments to act. 

“The ACCC has again urged governments to address the regulatory approval delays, legal hurdles and ‘an uncertain policy environment’ delaying new gas projects and deterring investment,” she said.

McCulloch emphasised the need for policy certainty to support new developments. 

“At a time when Australians are facing cost-of-living pressures, governments must do everything they can to remove these barriers and ensure reliable and affordable energy for Australian homes and businesses.”

The ACCC report also suggests that liquefied natural gas (LNG) imports may be necessary to supplement supply in Victoria and NSW. 

However, it cautions that reliance on imports could drive up prices, underlining the importance of domestic production for energy security and market stability.

“The priority should be on providing reliable and affordable gas sourced close to where it is needed,” McCulloch said. 

“Australian gas producers are committed to providing reliable and affordable energy for Australian homes and businesses, but as the ACCC has confirmed governments must act to restore investment confidence and ensure timely approvals for new gas supply.”

CareerSpot This email address is being protected from spambots. You need JavaScript enabled to view it.