(MENAFN) According to UBS analysts, regardless of the latest governmental interference, there are no signs of decreasing gas prices in the East Coast.
The analysts reported: "With diverted Queensland LNG supplies being one of the more expensive gas supply options available, our near term outlook is for east coast gas prices to continue to increase as legacy contracts roll off."
This month, the federal government made a deal to make the three Queensland LNG ventures in charge of covering any deficiency in the gas market of the East Coast in the next two years.
UBS said that higher gas prices will also maintain high electricity prices within the next few years, with ageing coal plants, rising demands of gas, shortage of new generation supply are also responsible for the increase.
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