Australian households are being hit by another global fuel shock – the second time in just four years. As the US-Israel war on Iran unfolds, it is not only causing devastating impacts throughout the region, but is disrupting energy markets, pushing up prices and threatening people’s livelihoods the world over.

Australia's heavy reliance on fossil fuels means international crises quickly translate into higher costs at home.

This report finds that the solutions are already here. Renewables and electrification are already protecting many Australians from price pain. The alternative – more coal, oil and gas – is expensive, polluting and won’t improve Australia’s energy security. 

The report proposes that a step-change, focused on electrification, renewables, batteries and cleaner transport, can cut fossils fuel dependency permanently. 

Key findings

1. Australia is badly exposed to global fossil fuel shocks, and households are paying the price.
2. The best energy security solutions are already here, protecting Australians and cutting bills.
3. More coal, oil and gas is expensive, polluting, and will not improve Australia’s energy security.
4. With smart policies, governments can deliver lasting energy security.