The Nationals in government will shore up gas supplies and drive down prices with a 100 per cent domestic reservation policy on all new conventional onshore gas produced in Victoria.
The Nationals Member for Gippsland South, Danny O’Brien said in a move to ease cost of living pressures, boost supplies for domestic and industrial users and firm up electricity supplies all new gas development will be reserved for Victorian homes and businesses.
“Here in Gippsland South we have been the gas and oil powerhouse for 50 years and we will remain so for some time yet. But we know Bass Strait gas reserves are dwindling and we need new supplies to firm up renewables and support Victorians.
“Gippslanders are being hit hard by the rising cost of living and this policy will result in more reliable and affordable energy for all Victorians,” Mr O’Brien said.
“This is a real solution to ease power prices and reduce daily living costs.
“Our plan continues the ban on fracking and gives veto rights to landowners against gas companies while also offering an incentive via a share of gas royalties to landowners.
“It makes sense to use the gas we have available right here in Victoria to increase supply and ease costs for Victorians.”
Mr O’Brien said a 2020 report confirmed that Victoria potentially has up to six years’ worth of conventional onshore gas supply.
“The Andrew’s Labor Government has blocked this gas from being used which has impacted supply and pushed prices even higher.
“Higher energy prices are hurting Gippsland families and accessing and using our natural gas reserves right here in Victoria can help ease that burden.
“We have seen a domestic gas reservation policy work in Western Australia since 2006 and it just makes sense for Victoria to do the same.”
Mr O’Brien said The Nationals will ensure the domestic gas reservation policy is legislated within the first six months of forming government.