Australia's Health Minister assures no changes to PBS

Health Minister Mark Butler has assured that there will be no changes to the Pharmaceutical Benefits Scheme (PBS). He is also in discussions with the White House to discourage potential tariffs on Australian pharmaceuticals from the United States. In energy news, concerns about gas shortages during cold weather seem to be less severe for now. Last year, the Australian Energy Market Operator (AEMO) warned that southeastern Australia might face gas shortages this winter. These shortages typically happen on "peak days," which occur during very cold weather or when other power sources fall short. However, AEMO's latest update indicates that the situation may not be as critical as previously thought. Gas demand has decreased as more households switch to electric appliances. Additionally, the New South Wales government’s decision to keep the Eraring coal-fired power plant running longer has further eased gas demand. Despite this relief, AEMO has issued warnings about potential supply issues during peak days in winter 2028. Looking ahead, the operator noted there could be broader gas shortfalls in eastern Australia starting in 2029. AEMO is calling for urgent investments in new gas supplies to address these future challenges. Some experts have criticized AEMO's gas forecasts, suggesting the agency may overestimate demand and fail to recognize how quickly Australians are moving away from gas.