Albo’s energy superidiot is in fine form today as gas prices resume their climb north of his $12Gj price floor:
And NEM prices follow suit, now at an all-time QMA of $153MWh, outside of wartime:
Apparently, this qualified as an “easing” of the crisis:
The east coast gas market is well placed to endure a looming cold snap despite an expected week-long tempering of production from the region’s dominant producer, the nation’s energy market operator has assured the industry.
The outlook, delivered during a fortnightly industry conference call, has elevated market confidence that the east coast could get through winter without emergency measures such as shutting off many users.
Are gas prices of $14Gj, 450% above historical averages, and NEM prices still rising at records, an easing of the crisis?
Only if you are so used to energy shock that avoiding extreme war profiteering is a victory.
Politics is consumed by irrelevance:
The Coalition is signalling it will oppose Labor’s green-ratings system if it excludes gas, setting the scene for the next stage of the pre-election battle over energy and climate change policy.
After The Australian revealed gas was listed as a “phase down” sector in a proposed sustainable investment framework, opposition Treasury spokesman Angus Taylor said he believed the policy would add to cost-of-living pressures.
“The Coalition will not accept a framework that will increase the cost of living for Australians, which is what it appears this policy will do,” Mr Taylor said.
Quite right but the Coalition isn’t proposing anything that will fix it either.
More supply will do nothing unless a new gas management regime – either domestic reservation or export levies – is installed to guarantee local security of supply at affordable prices.
Only more energy superidiot appears in prospect as Canberra does nothing but blather.
