Media release: Opposition’s pledge to include gas in Capacity Investment Scheme welcomed

Australian Energy Producers welcomes the Federal Opposition’s plan to include gas in the Capacity Investment Scheme (CIS) to help secure urgently needed investment in gas power generation capacity. 

Australian Energy Producers Chief Executive Samantha McCulloch said the announcement sent a strong signal about the critical, long-term role of gas in Australia’s energy mix and would redress a policy failure of omitting gas from the scheme.  

“The energy market operator recently highlighted that the National Electricity Market will need an additional 13 GW of new gas power generation to be built by 2050 as part of the least-cost transition, underscoring the increasingly important role of gas for Australia’s energy security,” she said. 

“Australia urgently needs investment in new gas supply and infrastructure, and the CIS is an important lever to support this necessary investment.” 

“Amid an increasingly difficult regulatory and investment environment in Australia, the Coalition has recognised the critical role of gas and the need for more supply to ensure reliable and affordable energy for households and businesses.” 

Today’s announcement complements Coalition commitments to address the regulatory barriers to new gas supply, unlock key gas basins, and to reinstate annual acreage releases.  

“Australia needs energy policies that provide certainty around project approvals and regulatory stability to restore investor confidence,” she said. 

“The deliberate exclusion of gas from the current CIS was a mistake that needs correcting to incentivise the significant investment needed to ensure Australians have reliable and affordable energy. 

“This is not a measure that needs to wait until the next federal election – it is a conversation that state and federal energy ministers should be having today.” 

Media Contact: Brad Thompson on 0401 839 227