Australian energy ministers at state and federal levels have agreed to strengthen the powers of energy regulators and allow the market operator to obtain and store gas supplies to curb the energy crisis.
Federal Energy Minister Chris Bowen convened a meeting with his state and territory counterparts on June 8, in which they put forward 11 action points.
Bowen said the proposed changes would enable Australia to manage the energy crisis from now on.
“No silver bullet, no magic answers, but material steps forward in a very positive fashion,” he told reporters after the meeting.
“The Australian Energy Market Operator (AEMC) could procure some gas and keep it in reserve to be released for urgent and crisis situations….