IEA report confirms that gas high is cooking global energy prices

Perth, 27 October 2022: A major new report confirms that gas is responsible for fifty percent of global electricity price hikes, which Greenpeace Australia Pacific says makes the case for a rapid transition away from dirty, expensive gas.

The International Energy Agency’s World Outlook 2022 found that electricity price hikes driven by skyrocketing gas and coal prices could leave up to 100 million people unable to access electricity for cooking, while gas corporations rake in unprecedented profits at the expense of consumers.

Jess Panegyres, Head of Clean Transitions at Greenpeace Australia Pacific, said that the International Energy Agency (IEA) report confirms why Australia must accelerate its renewable transition.

“Gas producers like Woodside Energy are enjoying record profits, taking advantage of the volatile global energy market while Australians face worrying energy bill shocks. But the IEA’s report shows clearly that Woodside’s gas high will be short-lived, because astronomical gas prices are forcing Australia’s key export markets to get off gas and switch to cheap, clean renewable energy. 

“The IEA’s report highlights the bright long term prospects for renewables, pointing to supportive government policy in the US and Europe that has sparked a clean energy investment boom, and an increase in renewable technology manufacturing that paves the way for rapid mass deployment. Despite the current turbulence of the global energy market and the short term opportunism of gas and coal producers, it’s clear that the global energy future is renewable.”

“As one of the sunniest, windiest places on earth, Australia – and in particular, energy powerhouse states like Western Australia – can get in front of the global energy transition and reap the rewards of cleaner, cheaper power. With energy prices at the forefront of Australians’  minds following this weeks’ Budget, it’s time to ditch dirty, expensive gas and rapidly switch to clean, cheap renewables.”


Jess Panegyres, Head of Clean Transitions at Greenpeace Australia Pacific, can talk about Western Australia’s clean energy potential, and opportunities for the state in the global switch to renewables.

Richard George, senior gas campaigner at Greenpeace Australia Pacific, can talk about the climate and investor risk to gas producers like Woodside highlighted in the IEA’s report.

For more information or to arrange an interview contact Fiona Ivits on 0487 003 872 or [email protected]