Today AEMO confirmed it has ended the gas supply threat notice, issued on Wednesday 19 June 2024, in line with requirements under AEMO’s East Coast Gas System functions.
The notice was issued after a potential risk to gas supply in southeast Australia was identified due to reduced gas production capacity and high gas electricity generation demand.
This led to a rapid decline in Iona underground gas storage and Newcastle LNG inventories during May and June.
Favourable weather conditions toward the end of winter and reduced gas generation demand have allowed Iona to start refilling its storage capacity.
Iona inventory is currently sitting at 44% or 10,736 TJ, while Newcastle LNG is currently holding 556 TJ, which is 36% full.
AEMO’s notices are an important mechanism in the management of gas supply and are used to keep the market fully informed.
Government representatives and industry participants were briefed on AEMO’s decision to end the notice on Thursday afternoon, 22 August, as part of AEMO’s ongoing management of gas supply.
To learn more about gas, see our Gas Bulletin Board (GBB) for real time gas flow information.
ENDS