Wholesale gas and electricity prices have tripled in Western Australia since 2020, when the WA government first permitted exports of domestic gas, linking the domestic and international markets.

Approval for the Woodside’s proposed North West Shelf Extension will lock in this link for the long term, leading to increased costs for West Australian households and companies.

The extension would also lock in massive export demand for onshore gas … for decades. The limits on onshore gas exports are not legislated and provide little protection.

If the government approves the 50-year extension, it risks locking in a structural change to the WA gas market which will not be possible to wind back.

Note: The text box of Figure 2 in this report was corrected on 6/12/2024