The latest Australian Competition and Consumer Commission (ACCC) Gas Inquiry report confirms Australia's east coast gas market remains well supplied, with stable domestic prices despite volatility in international energy markets.
The ACCC found gas buyers contracted more than double the volume of gas for delivery in 2027 compared with the same period last year, while long-term contract prices remained broadly stable at around $12–13 per gigajoule.
The report follows recent independent EnergyQuest analysis showing gas prices paid by Australian domestic customers averaged $10.07/GJ over the 12 months to June 2026, while Australian LNG export prices were more than 50 per cent higher at $15.65/GJ over the same period.
Australian Energy Producers Chief Executive Samantha McCulloch said the report showed the east coast gas market remains well supplied in the near term, while reinforcing the need for investment in new supply to meet future demand.
"The ACCC’s findings show a well-supplied domestic gas market is helping insulate Australian households and businesses from the high gas prices other countries are experiencing," Ms McCulloch said.
"This underscores the importance of getting the design of the proposed domestic gas reservation scheme right.
“A reservation scheme should strengthen competition and encourage investment in new supply, not force gas into an already well-supplied market at the expense of domestic-focused producers.
"While the near-term supply outlook is positive, the ACCC's forecast of increased reliance on Queensland gas to meet Victorian demand next winter is a reminder of the need to invest in local gas production and the importance of southern gas producers supplying the domestic market.
"Ensuring Australians continue to have access to reliable and affordable gas depends on policies that unlock investment in new production to meet future demand,” she said.