AEMO continues to work with industry participants to manage storage levels at Victoria’s Iona gas storage facility and gas supply for electricity generation in the National Electricity Market (NEM).
Cold temperatures and the higher-than-average reliance on gas-powered electricity generation continue to drive gas demand in Victoria, and more broadly across the NEM.
Steps taken by AEMO with industry are helping conditions as intended, despite high gas demand, with current electricity supply sufficient to meet forecast demand.
This includes a request to market participants to not purchase gas from Victoria’s ‘spot market’ (Domestic Wholesales Gas Market) for usage outside of Victoria or for all electricity generation in Victoria.
Gas being supplied under existing contracts, rather than through the spot market, continues to flow outside of Victoria and to produce electricity in Victoria.
Please note that gas supplies to consumers in Victoria are presently sufficient to meet demand. Gas flows from Victoria continue into adjoining states, as shown on AEMO’s Gas Bulletin Board.
AEMO expects the gas supply guarantee and threat to system security mechanisms need to remain in effect until 30 September 2022 or until the threat to gas supply caused by Iona storage inventory depletion has subsided.
Further information on the gas markets AEMO operates, including up-to-date market and system information, is available via aemo.com.au.
This includes the Gas Bulleting Board (interactive map with gas production, storage and flow information) and data dashboards for the Sydney, Adelaide and Brisbane Short Term Trading Markets, Victoria’s Domestic Wholesale Gas Market and the Gas Supply Hub for the Wallumbilla and Moomba trading exchanges.