Forecast: Total Primary Energy Supply in Australia

The Total Primary Energy Supply (TPES) in Australia has shown a steady upward trend from 2013 to 2023. As of 2023, the TPES stands at 134.71 Million Tonnes Of Oil Equivalent (MTOE), representing a 0.95% year-on-year increase from 2022. This steady growth is part of a broader pattern over the last decade, with minor annual fluctuations but an overall consistent rise. The Compound Annual Growth Rate (CAGR) over the last five years has been 0.91%, indicating sustained growth in energy supply.

Noteworthy trends include:

• The slight decline between 2013 and 2016, with minor year-on-year variations.
• Post-2016, the energy supply began to recover, culminating in higher year-on-year increases, particularly a notable 1.71% rise in 2020.
• From 2019 to 2023, the energy supply continued to grow steadily at an average rate close to 1% annually.

Future trends to watch for include the forecasted growth from 2024 to 2028, with an expected CAGR of 0.72%. By 2028, the TPES is anticipated to reach 140.92 MTOE, reflecting a 3.64% growth over the forecast period. Key factors influencing future trends will include technological advancements, policy changes, and shifts in domestic and international energy demand.