Malcolm Turnbull warns Australia is in an ‘energy crisis’

Declaring that Australia is in the midst of an energy crisis, Prime Minister Malcolm Turnbull has said he will call together the chief executives of east coast gas companies to address the threat to their customers.

Mr Turnbull told delegates to a conference hosted by The Australian Financial Review that he was concerned by Wednesday’s report by the Australian Energy Market Operator warning of blackouts unless something was done to secure gas supplies.

He said Australian businesses had lost the international advantage they once had of access to cheap and reliable energy.

Mr Turnbull also criticised state governments for hampering onshore gas exploration and development. “We are facing an energy crisis in Australia because of these restrictions on gas,” he said.