Condition
Wholesale gas prices
Have east-coast wholesale gas prices come down from the 2022 crisis?
Wholesale gas prices: $28.40 in Jun qtr 2022, $9.08 in Jun qtr 2026.
- Latest
- $9.08/GJ
- Since the government took office
- Better−68.0%
- Over the past year
- Better−26.5%
Average east-coast wholesale gas price ($/GJ)
- Nominal
What this is
The average price of gas traded in east-coast wholesale markets, in dollars per gigajoule. It is a key input cost for manufacturers, gas-fired power stations and household gas bills.
Why it matters
We report the good news too. Wholesale gas has fallen sharply from its 2022 peak, but households haven't seen that in their electricity bills.
More from the figures
- Wholesale gas prices hit a record $28.40/GJ in the June quarter 2022 during the global energy crisis after Russia invaded Ukraine. They have since fallen to $9.08/GJ, the lowest since mid-2021.
- A temporary $12/GJ emergency price cap was introduced from 23 December 2022.
- The ACCC says long-term contract prices are around $13-15/GJ, which is what many businesses pay. Lower wholesale gas has not flowed through to lower electricity bills (see the $275 promise).
How it’s calculated
Average east-coast wholesale gas price for the quarter as reported in AEMO's Quarterly Energy Dynamics.