Skip to content
Business Company News, Energy

Securing our energy future

The Victorian Chamber of Commerce and Industry 2 mins read

The Victorian Chamber of Commerce and Industry is urging the Victorian and Federal Governments to adopt an alternative energy pathway as Victoria’s energy crisis becomes a national issue.  

In our latest policy paper Securing Our Energy Future, the Victorian Chamber states that new gas supply must be urgently prioritised to avoid imminent shortages impacting the east coast of Australia.  

It’s time to rethink our energy transition into two separate phases. The first is to shore up both gas and electricity in supply and deliver the lowest price. Once that is done, we can move to transitioning society to a net zero future.  

With energy prices high, we have seen the impact on business. If supply is threatened, more businesses will make the decision to leave. We need to give business the certainty it needs. 

To shore up gas supply will require new reserves being unlocked, LNG supplies being planned for, or increased pipeline capacity coming down from Queensland. Electricity has already been underpinned by an agreement to extend coal generators to operate longer. 

As we move to renewables in phase two, an efficient and least-cost pathway for Victoria requires streamlining regulatory approvals, upholding technology neutrality, formally recognising emerging energies in pre-existing frameworks and incentivising supply and demand of novel gases and liquid fuels. 

Victoria has the opportunity to develop these new clean energy industries and be a leader nationally and internationally. These novel industries in renewable gas, carbon capture and storage and renewable liquid fuels will translate into more jobs that would drive our local economy into the net zero future. 

A pragmatic approach to net zero can be achieved through commercially realistic policies that provide investment assurance to industry. Currently Victoria is losing hundreds of millions of dollars in investment potential in a future natural and renewable gas industry. Regulatory barriers alone have resulted in $90 billion of possible renewable energy projects stalling.i 

The impact of no action, and gas shortages will be devastating to Victoria’s business and industry. The Longford Disaster in 1998 cost business $1.3 billion. In today’s dollars, without taking into account population growth, that would be $2.6 billion per fortnight that gas is not available. 

We believe collaboration between energy industry producers, retailers, pipeline and infrastructure companies, peak bodies and end-to-end users together with the Victorian Government is essential and urgent to ensure that gas remains in our energy system.  

The Federal Government’s Future Gas Strategy is the mechanism for addressing the urgent situation Victorian businesses now face, especially as it is apparent there are few viable and available alternatives to power our State.  


To be attributed to Victorian Chamber of Commerce and Industry Chief Executive Paul Guerra:  

“Our current trajectory is putting Victoria’s prosperity at risk, as energy security and price cannot be guaranteed. 

“Gas will be essential for transition to net zero. Equally, we need all our energy options on the table to overcome our current energy crisis.  

“We need to shore up existing supply on energy to give us the runway to then move to a renewable environment in a cost-effective way. Supply disruption and price spikes will be dire for business. In the immediate term, we need new gas supplies, as current ones are now at risk. 

“New clean energy industries will create enormous economic and environmental benefits, but the transition must ensure an affordable and available supply to power Victoria into this next stage of prosperity.” 

Contact details:

Gemma Carter 0423 883 945


More from this category

  • Aviation, Energy
  • 24/07/2024
  • 12:40

HIF Global signs collaboration agreement with Airbus for Sustainable Aviation Fuels

Agreement paves the way for e-Fuels, made from renewable electricity, water, and recycled carbon dioxide, to reduce net CO2 emissions in the aviation sector Farnborough, July 23, 2024. HIF Global has announced the signing of a Memorandum of Understanding with Airbus to advance the global development of eFuels for aviation (“e-Sustainable Aviation Fuel” or “e-SAF”) via the methanol to jet fuel (“MTJ”) pathway. The MoU provides a framework for negotiation of definitive agreements in relation to four key workstreams: technical, project development, commercial and advocacy. The collaboration was signed at the Farnborough Air Show in England, one of the most…

  • Biotechnology, Business Company News
  • 24/07/2024
  • 10:53
Jane Morgan Management

LTR Pharma Ltd (ASX:LTP) Completes A$10.5 million Placement to Expedite Commercialisation of SPONTAN

Sydney, Australia – 24 July 2024 – LTR Pharma Limited (ASX: LTP) ("LTR Pharma" or "the Company"), a company focused on improving men’s health through the clinical development and commercialisation of an innovative nasal spray treatment for Erectile Dysfunction ("ED") called SPONTAN®, is pleased to announce the successful completion of a A$10.5 million share placement to sophisticated and new institutional investors. The placement received demand significantly above the A$10.5 million raised. Key Highlights: Successful Fundraising: LTR Pharma has raised A$10.5 million through a private placement at an issue price of A$0.73 per share, representing a 13.2% discount to the 30-day…

  • Contains:
  • Business Company News, Oil Mining Resources
  • 24/07/2024
  • 10:36
Jane Morgan Management

C29 Metals Ltd (ASX:C29) Lodges Two New License Applications Around Ulytau Uranium Project

Perth, Australia – 24 July 2024 | C29 Metals Limited (ASX: C29) ("C29" or the "Company") is pleased to announce the lodging of two new licence applications around its high-grade Ulytau Uranium Project in Kazakhstan. The new applications, covering approximately 252km², significantly expand the project’s prospective footprint and reinforce C29’s strategic growth plans in the region. Key Highlights: New Licence Applications: C29 has lodged two new licence applications with the Kazakhstan Ministry of Natural Resources, covering a combined area of approximately 252km². These applications are interpreted to be within the same mineralised trend that hosts the high-grade Ulytau Uranium Project.…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.