Australian state bans gas to new homes from 2024 in push to cut … – Reuters

[1/2]A sign warns of an underground gas pipeline running next to a newly planted crop near Dalby 180 km (112 miles) west of Brisbane October 28, 2011. REUTERS/Tim Wimborne Acquire Licensing Rights
SYDNEY, July 28 (Reuters) – The Australian state of Victoria will ban natural gas connections to new homes from next year as part of a plan to cut emissions and lower energy bills, the state climate action minister said on Friday.
Australia's second-most populous state is the country's largest consumer of natural gas with around 80% of homes connected but also has ambitious plans to reach net zero emissions by 2045, five years ahead of the federal government.
Minister for Climate Action Lily D'Ambrosio said on Friday that new homes requiring planning permits must connect to all-electric networks from January 2024.
The gas sector contributes 17% of the state's emissions.
"Reducing our reliance on gas is critical to meeting our ambitious emission reduction target of net zero by 2045 and getting more Victorians on more efficient electric appliances which will save them money on their bills," D'Ambrosio said in a statement.
The changes will apply to all new public buildings yet to reach the design stage, including housing, schools, and hospitals.
The plan comes as southeastern Australia faces potential gas shortages from mid-decade as output falls from the offshore fields, operated by Exxon Mobil Corp (XOM.N), that have long supplied the region.
The ban will do little to help the climate because it will push households onto the coal-based electricity grid, according to a statement from the Australian Petroleum Production and Exploration Association.
Power generation in Victoria, heavily dependent on coal, accounts for about half of the state's carbon emissions.
"The Victorian Government is taking choice away from consumers for limited climate benefit while ignoring the fact that the best way to bring gas prices down is to invest in more gas supply," said Chief Executive Samantha McCulloch.
Rewiring Australia, a non-profit which advocates for electrification, backed the move and said "electrification is the fastest and most cost-effective way to shave thousands of dollars a year from energy bills and lower our emissions."
Australia last month finalised a package of rules for the domestic gas market including a cap on wholesale prices that was first introduced in December.
($1 = 1.4932 Australian dollars)
Reporting by Lewis Jackson; Editing by Stephen Coates and Sonali Paul
Our Standards: The Thomson Reuters Trust Principles.
Canadian Prime Minister Justin Trudeau on Thursday announced a three-year carbon tax exemption for home heating oil and higher carbon tax rebates for people in rural areas, measures he said were intended to bring relief amid soaring costs of living.
General Motors and Chrysler parent Stellantis . were in intensive talks on Thursday with the United Auto Workers in an effort to end a six-week-old strike a day after Ford Motor reached a tentative contract deal.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2023 Reuters. All rights reserved







Leave a Reply

Your email address will not be published. Required fields are marked *