Revealed: State's $80 billion compensation headache in a fuel crisis

Key points

• Victorian taxpayers could be liable for tens of billions of dollars in a major fuel crisis, under laws that allow compensation for economic losses. A draft government proposal from June estimated the potential burden at up to $80 billion and prompted plans to update the 1970s-era Fuel Emergency Act.
• The amendments were not introduced before the end of the parliamentary sitting year, so any changes must wait for the next parliament.
• A government spokesperson said the state's fuel supply remains strong and that Victoria is better prepared for any emergency.