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Australia energy report

Australia energy report
Update
Format
4 files (PDF report, 3 Excel files)
Pages
50 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive Australia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • Australia raised its 2030 carbon emission reduction target to 43% by 2030 compared to 2005 levels.
  • The electricity sector has many local and private companies.
  • The coal and hydrocarbon sectors are dominated by large international companies.
  • The rapid decrease of coal in the power mix (-24 pp since 2010 to 47% in 2023) is offset by solar and wind (+15 pp since 2019 to 27% in 2023).
  • LNG exports grew very rapidly between 2015 and 2020 (25%/year) and have progressed slower since then (3%/year), reaching 118 bcm in 2023.
  • Motor fuel prices rose by 40% between 2020 and 2022 and are 30% below the OECD average.
  • Australia has introduced a temporary cap on gas and coal prices until mid-2025, which limits increases of electricity and gas prices for consumers.
  • The share of coal in the energy mix has decreased by 11 points since 2010, while the share of natural gas increased by 7 points. Carbon free sources only account for 11% of the energy mix.
  • More than 17 GW of solar, wind, and battery storage are under construction or subject to a FID.
  • Two LNG liquefaction plants and two regasification terminals are under construction.
  • Coal mining projects are facing opposition and cancellations.
2nd
worldwide exporter of LNG and coal
-43%
GHG emissions in 2030 (vs 2005)
1st 
in PV production per capita
  • Institutions & Energy Policy

    Australia is a constitutional monarchy with a federal division of powers. The country is made up of six states and two territories: New South Wales (NSW), Queensland (QLD), Victoria (VIC), South Australia (SA), Tasmania (TAS) and Western Australia (WA), and the Australian Capital Territory (ACT) and the Northern Territory (NT). The first three account for around ¾ of the GDP.

  • Energy Supply

    Gas:

    Natural gas production increased very quickly between 2015 to 2020 (around 17%/year) and in 2022 (+7%). It decreased in 2021 and grew by only 1% in 2023 to 162 bcm. Most of the production is sourced from three basins: the Carnarvon Basin (north-west Western Australia), the Gippsland Basin (Victoria), and the Cooper-Eromanga Basin (central Australia).

  • Energy Prices

    Electricity:

    After rising between 2016 and 2018, electricity prices for households decrease slightly between 2018 and 2023, while prices for industry rose between 2016 and 2021 and decreased since then. They reached US$16c/kWh for industry and US$22c/kWh for households on average. These prices are significantly higher than the OECD average.

  • Energy Consumption

    Per capita energy consumption is around 25% higher than the average of OECD countries, amounting to 5.0 toe/cap in 2023, while per capita electricity consumption was 9.3 MWh/cap.

    Total energy consumption remained relatively stable between 2010 and 2023 (between 130 and 135 Mtoe according to the year considered).

  • Issues & Prospects

    Electricity:

    AEMO released its Draft 2024 Integrated System Plan (ISP), outlining a 30-year roadmap of investments for the NEM in December 2023.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2023, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2023, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Gas prices for industry and households (US$c/kWh GCV)
  • GRAPH 8: Consumption trends by energy source (Mtoe)
  • GRAPH 9: Total consumption market share by energy (2023, %)
  • GRAPH 10: Final consumption market share by sector (2023, %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Oil consumption breakdown by sector (2023, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2023, %)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2023, %)
  • GRAPH 17: Coal consumption (Mt)
  • GRAPH 18: Coal consumption breakdown by sector (2023, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The Australia energy market data since 1990 and up to is included in the Excel file accompanying the Australia country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Australia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Australia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Australia country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.