Australia has enough energy but not enough power in the system

Origin Energy CEO Frank Calabria says there is enough gas in Australia, but there is not enough power in the system.

“What’s happened is that if you have a power price of $300 or $400 per megawatt hour, and because you don’t have enough power in the system, the utility company can pay a lot more for that gas because it’s competing against its wholesale position in energy.” he told Sky News Business Editor Ross Greenwood.

“So the most important thing is that you have to have enough of that power in the system so that you don’t use it disproportionately over time.”

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