NSW businesses call for help to reach net zero

Australia has been “sitting on its hands” when it comes to securing future energy supplies including the controversial gas exploration project in Narrabri, which Harding supports. “We need to get off our hands when it comes to Narrabri,” he said. “We need to approve that gas field to be opened within the next three years.”

Harding said Australia realises it had a huge opportunity to switch to renewable energy sources such as wind and solar in the years to come. “We need to come off coal … but gas will provide a really good bridge and make sure we don’t lose all of our manufacturing to overseas,” he said.

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“What we don’t want to do is lose all of our manufacturing jobs offshore just at the time when we are trying to bring them back onshore because our prices are too high when it comes to domestic gas.”

NSW Premier Dominic Perrottet and federal Resources Minister Madeleine King both see the Narrabri gas project as key to the future security of energy generation. But their plans are opposed by farmers, landowners, First Nations peoples and the highly organised Lock the Gate organisation.

Left unchecked, electricity prices are tipped to rise by more than 50 per cent in the next two years, and gas prices by more than 40 per cent, according to federal Treasury. Power and gas prices across the eastern seaboard have increased as the war in Ukraine deepens a global energy crunch by driving countries to ditch Russian coal and gas. This has fuelled fierce competition for Australian exports.

The Business NSW report found that most businesses were looking for help to improve sustainability and reduce costs from energy companies and online, despite rating them as providing the worst advice. Only 15 per cent of businesses sought help from energy consultants and peak bodies, which they rated as the best sources of advice.

“The federal government needs to combine last week’s bill relief measures with advice that helps businesses to deal with the complex web of the energy market,” Harding said.

Federal parliament on Thursday passed government legislation that temporarily caps uncontracted wholesale gas prices to $12 a gigajoule and $125 a tonne on coal to reduce soaring power bills.

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