Business
Don’t expect gas to be cheap, warns Origin CEO – The Australian Financial Review
Gas prices need to be realistic and high enough to warrant investment in new projects or the molecules will stay in the ground, Frank Calabria said.
The comments come after the competition watchdog earlier this week took the gas industry to task for not passing through lower prices to consumers, as demonstrated by the wide gap between contract and spot gas prices on the east coast.
But Mr Calabria, who was speaking after Origin posted a 93 per cent dive in full-year bottom line profit, said contract prices had softened further since the Australian Competition and Consumer Commission’s data set. Even so, prices of $4-$6 a gigajoule as sugges…
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