Getting gas right: Australia’s energy challenge
The global gas revolution is poised to significantly raise bills for Australian households and some gas-using businesses, but government should resist calls to protect domestic households and businesses from high gas prices. Getting gas right: Australia’s energy challenge finds that development of Australia’s liquefied natural gas export industry, which could be the world’s largest by the end of the decade, could lead to price rises for households of up to $170 a year. For years local prices have been low by world standards, but when suppliers can get a higher price exporting than on the domestic market, the domestic price will rise to the export level. The change will not be popular, especially when electricity prices have also been rising, but it is a natural consequence of an evolving market.