Too late to avert a gas crisis in Victoria, says Woodside
Woodside Energy says it’s too late to avoid an economically damaging gas shortfall in Victoria thanks to a decade of political opposition to the fossil fuel industry.
Woodside Energy says it’s too late to avoid an economically damaging gas shortfall in Victoria thanks to a decade of political opposition to the fossil fuel industry.
The payout to investors overshadowed a 20 per cent jump in earnings that cements expectations that the company is well-placed in achieving its corporate turnaround. Shares slump.
Woodside Energy chief executive Meg O’Neill says it will be a major government policy failure if Australia cannot deliver cheap and reliable energy.
Emergency alerts about a shortage of electricity reserves hit an all-time record for a last quarter of the year in 2024, new data has revealed, as NSW’s two largest coal power stations suffered a spate of debilitating faults.
Australia will pass up a potentially lucrative industry to rivals storing captured carbon emissions unless the federal government lifts its restrictions on importation, says Santos.
Record electricity demand and a spate of coal outages that fell as NSW endured hot weather has sent the cost of producing electricity up more than 80 per cent, threatening to increase bills.
The value of Australian carbon credits increased by almost a third to $1.1bn last year, a report by research and advisory company RepuTex has found.
Australia’s energy grid is increasingly driven by foreign-manufactured components and that has prompted new powers for the Australian Energy Market Operator.
The acceleration of works is a boost to Victoria’s hopes of developing an offshore wind industry to replace the state’s coal capacity.
A Japanese-backed offshore wind developer may be forced to walk away from building one of Victoria’s biggest electricity projects as a legal standoff with Chris Bowen has paralysed progress.
Original URL: https://www.theaustralian.com.au/author/colin-packham/page/2