Highlights
- Australia has abundant and diverse renewable and non-renewable energy resources.
- Our reserves of thermal coal and uranium can sustain current production levels beyond 2100. Demonstrated gas reserves are estimated to sustain current production levels for around 54 years, and there is good potential for further discoveries of new gas resources, particularly coal-seam gas and shale gas
- In 2011 Australia was one of only three OECD net energy exporting countries. Exports accounted for around 80% of Australia’s total energy production (in energy content terms) in 2010–11.
- The Australian energy industry is a significant contributor to the national economy, providing over $68 billion of gross value added and more than 100 000 jobs. Indirectly, it supports many more.
- Fossil fuels accounted for around 96% of Australia’s primary energy consumption and 90% of electricity generation in 2010–11.
- While renewable energy is a relatively small part of our overall energy mix, it is experiencing high rates of growth and is expected to play a much more significant role across the economy into the future.
Australia has a mature, well-functioning energy system comprising a set of interlinked energy, carbon and financial markets. This is supported by extensive energy networks and supply infrastructure as well as diverse and robust supply chains that reliably deliver energy to our homes and businesses. Our abundant energy resources can provide secure supply into domestic and international markets for many decades to come.
Energy is a major contributor to our national economy through the employment and wealth creation it generates, as well as through its vital role in underpinning all facets of social and economic activity.
Increasingly, energy policy and the delivery of energy services are a shared responsibility governed through a complex set of frameworks across the different levels of the government. The Council of Australian Governments, acting through state and territory premiers and chief ministers and through its ministerial councils, plays a critical role in energy market oversight and development.
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