Jul 9, 2026 – 9.00amThe collapse of what was to be the first major gas power station in Queensland for more than 15 years has exposed a wider threat across Australia’s energy sector, as soft wholesale prices ruin the economics of generation plants needed for the transition.Plans for a $196 million gas-fired generator in Moranbah in central Queensland have been frozen after project owner QPM Energy was placed in voluntary administration with debts of more than $200 million.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Soft power prices sink gas plant amid wider investment threat
The freezing of failed QPM Energy’s gas project shows how low power prices are stalling investment in much-needed new generation for the energy transition.
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