Not enough gas, higher prices, factories close: Dire warning issued about gas supply
The Federal Government has been urged to consider intervention in energy markets, amid fears a gas shortage could lead to higher prices, according to a recent report by the consumer watchdog. Key points: ACCC report projects biggest domestic gas supply shortfall since 2017 The projected shortfall could put further pressure on prices Concerns arose that some manufacturers could be shut down The Australian Competition and Consumer Commission (ACCC) has released an interim report on its investigation into gas supplies along the east coast. It said that while Australia has “relatively abundant gas resources”, most of it is produced for export and large volumes are needed for the domestic market next year to avoid shortages. “The outlook for 2023 is very worrying and is likely to put further pressure on prices, which could result in some commercial and industrial users being unable to operate,” the report said. “This is a significant deterioration in conditions compared to what we projected