New Australia Institute research reveals that gas exports have led to the tripling of wholesale east coast gas prices and doubling of electricity prices, since exports began in 2015.

The Australian and Queensland governments’ decisions in 2010 to allow large-scale exporting of Australian gas from Queensland exposed Australians to high global prices, ending decades of abundant low-cost gas for Australians, leading to higher energy bills, gas shortages and manufacturing closures.

Gas price increases due to excessive exports have also caused electricity prices to rise because gas power stations often set electricity prices.

“When you get your next energy bill, blame the gas industry and your governments for opening the gas export floodgates despite being warned it would drive up energy bills for Australians,” said Mark Ogge, Principal Adviser at The Australia Institute.

“Gas exports have meant Australian households and businesses have paid billions of dollars more for energy over the last decade, all of which went to the profits of a handful of predominantly foreign-owned gas corporations.

“The gas industry’s deliberate plan to increase domestic gas prices for Australians, by exposing us to global gas prices, has been a massive transfer of wealth from Australian households and businesses to Big Gas.

“Gas exports have led to manufacturing closures in Australia. Gas exporters manufacture nothing except gas shortages and higher energy bills for Australians.

“The kindest interpretation of the Australian and Queensland governments’ role in allowing gas export corporations to brutally price-gouge Australians over the last decade is that they are weak and gullible. Arguably, they are complicit.

“It is extraordinary that successive Australian governments have allowed LNG producers to export surplus uncontracted gas to the global spot market while Australian manufacturers struggle to secure affordable gas at reasonable prices.

“Allowing new gas projects doesn’t solve the problem. We have tripled gas production in a decade, and we still have rolling shortages and high prices. New gas projects just mean more gas is exported and result in net-zero additional gas for Australians, unless we cut exports.

“The only way to fix this mess and reduce Australian energy bills is to cut exports and divert the gas to Australians.”

 “Gas exports have exposed Australian manufacturers to high global gas prices and are also driving up electricity costs, hitting manufacturers with a double blow, making it almost impossible to compete with subsidised imports,” said Geoff Crittenden, CEO of Weld Australia.

“It beggars belief that for the last decade, Australian governments have allowed LNG producers to export surplus uncontracted gas to the global spot market while Australian manufacturers are unable to secure gas at reasonable terms and prices. It needs to be fixed now.”

Mark Ogge will be at parliament house this morning for a press conference, along with Monique Ryan Senator David Pocock and Geoff Crittenden, CEO of Weld Australia

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