Business leaders are warning that companies may leave Victoria as gas bills spike and the state government admits a looming energy shortfall may not be avoided even if new supplies come online by 2027.
“Business will make decisions around their future locations. Money has choices and Victoria must be the destination for business investment, and reliability around energy provides that certainty.” Appearing before Victorian budget estimates on Thursday, D’Ambrosio said the government was pursuing its agenda to electrify homes because of looming shortfalls of gas supply in Victoria.
The Golden Beach gas storage facility is expected to come into its own as the big Bass Strait fields decline. For its part, the federal government says Australia needs more gas to meet its climate targets and transition more of the energy grid to renewables. “Now, no one should ever deny that because that is a fact of the matter. Geology also tells us in Victoria our gas reserves are depleting,” D’Ambrosio said.
Source: News Formal (newsformal.com)
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