Drooid Logo
Back to today’s briefing

Story perspectives

Victoria Opens Gas Exploration Amid Renewables Surge

2/4/2026

49 12 Full Breakdown

1 of 1

Story summary
  • The Victorian government has opened areas for gas exploration, despite shifting away from gas, with Bass Strait wells depleting and most gas exported.
  • Energy ministers may empower the Australian Energy Market Operator to intervene in the gas market.
  • The government aims to deploy 2 gigawatts of offshore wind energy by 2032, noting progress remains slow.
  • Renewables contributed more than 50% of electricity last quarter, while coal and gas generation declined.