In March 2018, natural gas prices were $US15 per MMBtu.
At the time, gas prices for a typical household were $3 per Mmbtu.
This meant a $US13,000 household would have to spend $US5,000 to get the same amount of electricity as it does now.
The problem was that the industry was experiencing a massive surge in demand.
The average household now uses about 10.4 million megawatt hours of electricity a day.
So what happens when demand spikes?
The industry was struggling to find new markets for the gas.
But when it comes to new markets, the gas industry has a very different approach to finding them.
A key question to ask, according to the Australian Energy Market Operator (AEMO), is: What is the market going to be in 10 years?
The answer is, that the market has a lot of room to expand.
In the meantime, the industry is struggling to get to grips with the changing landscape of the energy market.
This is a story about a very big and complicated industry that has very different needs from the average household.
In this episode, I discuss how the gas market works and what’s at stake for consumers.