Australia faces urgent need for investment to prevent energy shortfalls, grid operator warns
![Australia faces urgent need for investment to prevent energy shortfalls, grid operator warns](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/03/1392.jpg)
According to the grid operator, Australia, a major natural gas exporter, urgently needs investment to avert shortages in several densely populated regions starting in 2025 and to facilitate the growth of renewable energy.
The Australian Energy Market Operator, in its annual Gas Statement of Opportunities report, warned that the southern states, home to approximately two-thirds of the population, could experience shortages during severe winter conditions as early as next year, with minor seasonal supply gaps anticipated from 2026.
Additionally, the northern regions, primarily engaged in natural gas export to Asia, will also require investment by 2026 to meet rising demand.
Also read: Britain’s National Grid proposes $74 billion energy system upgrade
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“Flexible gas-powered electricity generation is an essential component of the energy mix into the future,” AEMO Chief Executive Officer Daniel Westerman said. “Gas, along with batteries and pumped hydro, will enable higher rates of renewables and support electricity reliability as Australia’s coal-fired power stations retire.”
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