Key points:
- 80% of gas produced in Australia is exported, mainly by multinational corporations, mostly royalty-free and paying zero Petroleum Resource Rent Tax.
- The Coalition’s policy appears to place no limits on exports, no gas reservation policy and may even “de-fang the Australian Domestic Gas Security Mechanism“.
- Without addressing exports, or how to reduce household gas use, there will be no reduction energy bills.
“It beggars’ belief that the Coalition would propose cutting energy bills by making Australians more dependent on gas and the multinational gas companies that dominate the Australian gas market”, said Mark Ogge, Principal Adviser at The Australia Institute.
“If the Coalition is elected and revives the Morrison Government’s Gas Fired Recovery, Australians will be even more exposed to global gas prices, which will lead to higher energy bills in the midst of a cost-of-living crisis.
“Gas is already a far more expensive way of producing electricity than renewable energy. Making Australians even more dependent on gas will drive up energy bills for Australian households and businesses.
“To have increased Australians exposure to global gas prices once was a mistake. To do it again is reckless to say the least.”
