energy storage companies Is there opportunity in current gas ‘crisis’?

Australia is on track to become the world's largest exporter of liquefied natural gas, although households and businesses here are rapidly responding to the cost consequences of the expansion of electricity and gas contracts.The gas crisis is hitting us, potentially causing serious damage to Australia's economy, employment and cost of living.The coming natural gas crisis is the inevitable consequence of an unprecedented expansion of LNG export infrastructure.
Six large liquefied natural gas trains in Gladstone, Queensland, cost billions of dollars, and these facilities are used to process exported natural gas.In addition to these infrastructure, gas companies have been locked in for a long timeAustralia is shipping large volumes of natural gas overseas and seeking more gas exploration across the country.For three reasons, the export of most of Australia's natural gas has driven significant cost growth at home.
First of all, the price of natural gas here is now related to the ups and downs of world market prices.Second, increased demand for natural gas to meet export contracts and domestic demand, and increased demand and dependence on more expensive sources of natural gas.Third, market forces and lack of competition have allowed gas companies to drive electricity prices, especially in South Australia and Queensland.
These factors put great pressure on domestic gas prices.The rise in natural gas prices has brought higher electricity prices to households and businesses.Expensive gas means expensive gas power.Some manufacturers are facing doubleA blow from rising gas prices and shortagesRegular contracts and increased electricity charges.
As the saying goes, there is a chance in every crisis.In the electricity industry, it is time to challenge the outdated Orthodox notion of the gas industry that gas "plays a key role in the transition to a low-carbon economy ".The world is moving forward.We no longer need natural gas for safe, low cost, low emissionsxa0System.
Natural gas is an expensive way to generate electricity compared to renewable energy technologies.Natural gas prices continue to rise as fuel prices rise, but the cost of wind, solar and battery storage has been falling and is fast.New wind and solar projects under construction in Australia are already cheaper than new natural gas power plants.
Solar thermal energy, biomass energy and existing hydropower can be used in-There is demand at any time of the day and provides power grid stability features.Wind and solar energy can also be paired with energy storage devices such as batteries and pumped water and electricity.Power grids distributed in different geographical locations bring more benefits.
This type of system is more resilient to extreme weather events such as jungle fires, heat waves, and stormsxa0More than those countries that rely on a single, massive energy source for long-distance transportation.In addition, the aging fossilThe fuel generator was not able to withstand the heat, as evidenced by the heat wave that hit New South Wales on February, when New South Wales had 3000 MW of natural gas and coal-fired power generationxa0Not available: tripping;couldn’t start;The output is lower than the maximum output;Or go out for repairs.Australia's power system has a chance in the gas crisis.
We can directly use modern power grids with renewable energy and storage technologies to improve energy efficiency rather than relying on natural gas for a long time and at a high cost.The real problem for our politicians and regulators is that in the face of this crisis,xa0Will they embrace the opportunity in front of them?