The energy industry has become a controversial space in Australia in recent years. Extortionary price hikes have seen more and more Australian families struggling to keep up, with one in four now reporting energy bill stress. Our reliance on fossil fuel has become a highly contentious topic as the devastating effects of our carbon output are becoming tangible. And if that wasn't enough, Australia's ever-increasing energy export industry has also come under fire for increasing carbon emissions while still driving up energy bills.
This report intends to dissect each of these areas, while shedding light on consumer attitudes and lived realities. It provides an analysis of current trends in price, renewables and exports, and forecasts where we see these industries moving in the future. This report combines analysis of third-party data, internal data and consumer attitudes from Finder's Consumer Sentiment Tracker.
The price of gas and electricity in Australia has outpaced the Consumer Price Index (CPI) significantly since 2004, with no indication of slowing down. If the current trend continues, the price of electricity will be double CPI by June 2023, with gas 77% higher than CPI. However, the cost of automotive fuel has remained relatively consistent with CPI.
Production, Consumption and Net exports
Export as a percentage of production in Australia is one of the highest in the world and has been growing steadily since the 1970s. In 2000 we exported 5% more energy than we consumed and in 2018 we exported 99% more5 – contributing to a considerable amount of the country’s overall exports. Energy accounted for 72% of Australia’s exported goods overall in 2018, worth $278 billion6. If this growth trend of exports continues, by 2030 we expect to export 3 times as much energy as we consume.
Key findings:
South Australia comes out on top for most expensive electricity
Victoria is the most affordable state for electricity
Finder predicts the price of electricity will be double the Consumer Price Index (CPI) by June 2023
Just one in four Australians trust their energy retailer
Over two-thirds of Australians are prepared to pay more for green power to help address their environmental impact
The growth in energy exports over time correlates very closely to the price ratio against CPI
Graham Cooke is the head of consumer research at Finder. He’s a seasoned analyst and data journalist, who has been covering personal finance, the economy, technology and travel at for eight years.
He had taken part in over 500 live TV interviews and appears regularly on ABC News and Radio, 7 and 9 News, Sunrise, Today, Studio 10 and others.
Graham is also a contributing author at Money Magazine and Yahoo Finance.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
The energy industry has become a controversial space in Australia in recent years. Extortionary price hikes have seen more and more Australian families struggling to keep up, with one in four now reporting energy bill stress. Our reliance on fossil fuel has become a highly contentious topic as the devastating effects of our carbon output are becoming tangible. And if that wasn't enough, Australia's ever-increasing energy export industry has also come under fire for increasing carbon emissions while still driving up energy bills.