Firms say af­ter meet­ing with Turn­bull they will en­sure sup­ply for elec­tric­ity mart

New Straits Times - - Business -

SYD­NEY from 2019 that could trig­ger in­dus­try sup­ply cuts and broad power out­ages.

“We are a mas­sive gas ex­porter. It is ut­terly un­ten­able and unac­cept­able for us to be in a po­si­tion where do­mes­tic gas con­sumers can­not have ac­cess to af­ford­able gas sup­ply,” said Turn­bull yes­ter­day af­ter the meet­ing.

He said the pro­duc­ers had guar­an­teed to en­sure that gas would be avail­able for the na­tional elec­tric­ity mar­ket.

Aus­tralia’s power sup­ply prob­lems made in­ter­na­tional head­lines last week when Tesla Inc boss Elon Musk of­fered to save South Aus­tralia, the coun­try’s most re­new­able-en­ergy de­pen­dent state, from black­outs by in­stalling largescale bat­tery stor­age.

The South Aus­tralian gov­ern­ment on Tues­day out­lined plans to spend A$510 mil­lion (RM1.7 bil­lion) to keep the lights on, in­clud­ing A$150 mil­lion to en­cour­age the devel­op­ment of 100MWs of bat­tery stor­age.

Aus­tralian man­u­fac­tur­ers have long com­plained of tight gas sup­plies and soar­ing prices as pro­duc­ers have fo­cused on sup­ply­ing gas to LNG plants that have locked in 20-year ex­port con­tracts. Reuters

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