Labor's high gas fuel businesses failures
Victorian businesses continue to pay the price for the Allan Labor Government's mismanagement, as high gas prices place further pressure on manufacturers across the state.
The Australian Energy Market Operator's most recentVictorian Gas Planning Report has identified the closure of several major industrial operators such as Qenos, Oceania Glass, as well as key players in the dairy sector including Saputo, Murray Goulburn, and Fonterra as contributing to a significant reduction in gas demand throughout last year.
The report also found that Declared Wholesale Gas Market prices have been higher on average in 2024 than in many recent years, with record levels of gas being supplied from Queensland to southern states, including Victoria.
Labor's high energy prices continue to place added cost pressures on Victorian businesses, with Australian Securities and Investments Commission data confirming that more than 200 Victorian manufacturing businesses have entered insolvency since July 1 last year.
Shadow Minister for Energy and Resources, David Davis, said: "Labor's high energy prices and record taxes are smashing businesses and Victoria's economy.
"Falling gas consumption reflects the damage Labor's ideological energy policies are having on the viability of many businesses operating in Victoria.
"Victorian businesses and households need cheaper energy bills and a secure supply of power into the future, yet Labor's only plan is to switch off the gas.
"Labor cannot manage money, cannot manage our energy system - and Victorians are paying the price."
