Australia energy crisis ‘didn’t happen overnight’

Resources Minister Madeleine King says high gas prices in Australia are among the highest in the world, despite natural resources not being due to “something that happened overnight”.

“There are international events, but also the design of the market and also some of our gas supplies cannot be moved around the country so easily,” she told Sky News Australia.

Ms King said the Northern Territory’s gas wells could be exported to countries nearby but not Sydney or Melbourne, and Gladstone’s gas hub was “built primarily for export”.

“That combined with the lack of electricity produced by coal plants, existing coal plants, going offline due to planned and unplanned outages, all add up to this extraordinary price,” she said.

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