Gas and power outages to sweep Australia as cold snap deepens energy crisis.

Australian gas prices are typically around $3 per gigajoule (Gj), but that skyrocketed to more than $380/Gj [bo rządzi tym „program” , automat…. md]

Australians are being warned of gas and power shortages over the next 24 hours as the east coast cold snap pushes the country’s energy supplies to the limit.

Frank Chung

Millions of Australians in multiple states are being warned of gas and power shortages over the next 24 hours as the east coast cold snap pushes the country’s energy supplies to the limit.

In an emergency phone conference on Wednesday, the energy regulator warned that Victoria, South Australia and Tasmania are facing gas shortages, while power supplies in NSW and Queensland will be stretched, The Australian reported.

The Australian Energy Market Operator (AEMO) told more than 100 industry players they may be forced to cut gas use. AEMO has also invoked an emergency supply guarantee mechanism on gas producers for the first time.

“This is the biggest energy crisis in 50 years,” Energy Users Association of Australia (EUAA) chief executive Andrew Richards told 2GB.

Industry experts have warned the UK-style energy crisis could crash Australia’s economy.

Wholesale electricity prices have soared by more than 140 per cent in 2022 alone, driven by surging gas prices even as 70 per cent of Australia’s gas is exported overseas.

Australian gas prices are typically around $3 per gigajoule (Gj), but that skyrocketed to more than $380/Gj this week as the energy market failed, forcing the regulator to intervene and place caps of $40/Gj in Sydney, Melbourne and Brisbane for the first time.

[bla-bla… md]