Australia’s energy ministers agreed to an 11-point plan for addressing the nation’s gas crisis. This is when energy prices spike due to high winter demand, and shortages.
On Wednesday night, Chris Bowen, Federal Energy Minister, presided over a meeting with his counterparts from the states and territories to discuss the crisis. He also agreed to give the Australian Energy Market Operator the ability to purchase and store gas supplies.
Australian energy prices are on the rise due to high winter demand and shortages of gas.

Bowen stated that while there was no short-term solution to the current crisis, the measures could be used by governments to address future crises.
“There are storage facilities throughout the country. He said that we had agreed to cooperate to give the AEMO this power, and to do so quickly.
Bowen stated that the principles outlined in the AEMO should be clear. He supports storage and renewables and believes they should be a focus of the capacity mechanism moving forward.
It was also agreed that energy regulators would be empowered to provide transparency to customers and ensure that retailers act in their best interest.
The ministers will develop a national transition plan for energy markets for their next meeting in July.