"Far from being to blame for electricity supply problems during the heatwave, renewable electricity generation like wind and solar were the quiet achievers," Mr Rattenbury said.

"We need to ensure that investment in gas is not out-competing investment in the renewable energy plans of the future."

Australian Energy Market Operator chief operations officer Mike Cleary said Thursday's warning gave energy companies ample time to provide solutions before supplies dropped.

"If nothing was to happen and the market did not respond we'd expect a shortfall on gas between 2019 and 2024," Mr Cleary said.

"Anything that's going to help increase gas into the market is going to be good for the market."

Mr Cleary said any impacts to the NSW market would impact the ACT with the current debate around Australia's energy security making AEMO's report more timely.

But Mr Rattenbury said more gas in the market would not drive down prices.

"Gas prices are rising yet AEMO has today debunked the myth that bringing on more gas supply will drive down prices," Mr Rattenbury said.

"Although gas is cleaner than coal, it is still a fossil fuel."

"AEMO's findings highlight the risk of banking on gas and coal to provide for our long term energy needs."

ActewAGL's general retail manager Ayesha Razzaq said AEMO identified a range of factors impacting the energy sector that could increase gas and electricity prices.

"These factors are nationally-driven and impact the entire energy market," Mr Razzaq said.

"The ACT continues to have very reliable energy supply and ActewAGL is continuing to monitor and manage these market impacts closely."