Insight
Australia’s winter energy crisis: a chilly wake-up call for the East Coast gas industry
Report summary
East Coast Australia kicked off winter 2022 with an early cold snap and unprecedented energy crisis. Gas, coal and electricity prices sky rocketed. Trading price caps, market protection mechanisms and corporate bankruptcies were triggered. And for consumers the reality of power outages and cold showers became reality! The crisis isn’t over yet but events of early June have given the East Coast a stark, chilly warning.
Table of contents
- Executive Summary
- What factors caused the crisis?
-
The East Coast isn’t out of the woods yet - what next?
- Additional gas supply options are limited in 2022
- 1) Diversion of LNG feedgas from Queensland
- 2) Domestic upstream supply
- 3) LNG imports
- Conclusions
Tables and charts
This report includes 6 images and tables including:
- East Coast (NEM) power demand and generation mix
- SWQP flows and utilisation (late May to mid-June)
- Domestic Wallumbilla wholesale benchmark price vs LNG netback price
- Queensland LNG export seasonality
What's included
This report contains:
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