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APA Group Welcomes Proposed Energy Security Requirement Policy in Victoria

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APA Group (ASX:APA) welcomed the proposed Victorian energy security requirement policy, saying the initiative will support investment in dispatchable energy generation to assist the state's transition away from coal, according to a Monday statement.

"We know significant investment is needed in new gas-powered generation and storage projects if Victoria is to securely transition away from coal," APA Group CEO Adam Watson said.

The company's AU$213 million expansion of its South West pipeline is underway to help meet projected peak-day shortfalls in Melbourne later in the decade, Watson added.

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