"AEMO warns of immediate gas shortfall threat as cold snap, renewable lulls and outages bite
By energy reporter Daniel Mercer
Posted Thu 20 Jun 2024 at 4:09pmThursday 20 Jun 2024 at 4:09pm, updated Thu 20 Jun 2024 at 6:41pm
In short: The Australian Energy Market Operator has warned of immediate gas supply risks across south eastern Australian.
The warning comes following increased demand for gas amid a cold snap, lower green power generation and supply problems.
What’s next? AEMO says the risk of supply shortages on peak demand days is likely to stay in place until September 30.
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The warning was sparked by a spike in gas demand following a cold spell,
a lack of renewable power in recent weeks and an outage at the Longford gas plant in Victoria – the biggest source of gas in southern Australia.
Combined, the shocks to the system have led to a run on Victoria’s most biggest and most important gas storage facility at Iona, about 230km south-west of Melbourne.
They have also sent the gas market skywards, with prices trading at almost $30 a gigajoule today – levels last seen during the energy crisis two years ago.
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A recent run of cold weather has caused a spike in demand for gas for heating across many of the southern states.
At the same time,
seasonal lulls in wind and solar output has led to a big increase in the amount of gas being burnt to produce electricity."
more
https://www.abc.net.au/news/2024-06-20/aemo-warns-of-immediate-gas-shortage-risk...