Victoria to face skyrocketing gas prices under energy policy

The Victorian Chamber of Commerce and Industry calls on all Victorian political parties to stop putting Victorian businesses and residents at risk by backing a moratorium that will ensure our state’s gas prices continue to soar.

Victorian Chamber of Commerce and Industry Chief Executive Mark Stone AM said that backing the moratorium on the exploration and development of onshore conventional gas, would do nothing to help Victoria’s mounting energy crisis.

“This position, backed by both the Victorian Government and Opposition, is the wrong approach. Locking away Victoria’s gas reserves until 2020 restricts our state from making any significant progress and instead leaves us at the mercy of international gas prices,” he said.

“Victorian businesses have no idea how much their energy bills will be affected and how they are going to cope with the inevitable additional cost.

“Families and households will also be affected, not just in increases in their own residential energy bills but by paying costs passed on by businesses to consumers.”

The Victorian Chamber believes that the current moratorium on the exploration and development of onshore conventional gas should be lifted and in its place a regulatory regime to manage the risks of individual gas supply projects on a case by case basis.

“Precisely at the time we should be exploring new reserves, these policies hold our state back by restricting growth in local gas supplies,” Mr Stone said.

“Proven and reliable technologies are available, which do not involve fracking, and at the very least should be investigated for Victorian businesses to have a chance at staying competitive against international and interstate competitors.”

The Victorian Chamber of Commerce and Industry strongly believes the Victorian Government needs a comprehensive plan to ensure that businesses have access to secure and affordable energy supplies so that our state can to remain competitive.

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