Beach Energy : response to the Australian Manufacturing lobby’s campaign to impose gas price controls

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Media release Beach Energy response to the Australian Manufacturing lobby's campaign to impose gas price controls 8 October, 2025 Enforcing price controls on the supply of natural gas would stymie domestic exploration and production and worsen gas shortfall projections faced by Australian manufacturers and industry. Beach Energy Managing Director and CEO Brett Woods said the manufacturing sector's campaign to encourage gas price-setting as part of the Federal Government's National Gas Market Review, is overly simplistic and distracts from real solutions to fixing the east coast gas market: removing policy and regulatory roadblocks and ensuring clear incentives to developing more domestic supply. "Timelines from discovery to first gas continue to lengthen while uncertainty around policy settings add significant cost and risk to investment decisions," Mr Woods said. "Gas exploration in Australia has decreased by 74 per cent during the past decade, indicating that policy, fiscal and regulatory settings are discouraging essential capital investment which will improve local supply. Any further economic constraints will only see this decrease further, and therefore deliver less natural gas to manufacturers, businesses and Australian households. "It is difficult to see how introducing market intervention that would significantly deter exploration, production and supply could have anything but a detrimental impact on the Federal Government's Future Made in Australia policy and the jobs and economic benefit tied with it. "Despite the challenges of bringing new supply to market, Australian wholesale natural gas prices are in the lowest quartile of OECD nations. If manufacturers believe there is cheap natural gas to be discovered and developed, then they should partner with producers to risk capital, invest upstream, and share the commercial realities of bringing new natural gas to market. "History shows us time and time again that arbitrary market intervention through price caps and regulation does not work. Any short terms benefits to buyers are soon lost due to the much more severe long-term impacts of disincentivising supply-side capital investment." As a major supplier to the industrials and manufacturing segment, Beach has publicly supported a prospective domestic natural gas reservation policy. Beach supplies 100% of its east coast natural gas to domestic customers and ranks as the third largest domestic only supplier (19 per cent of market share produced and marketed in FY25) with a stated vision and strategy of growing its domestic gas position. Mr Woods said it was important the manufacturing and the oil and gas industries were aligned in advocating for policies and regulations to promote more local natural gas supply and storage to support peak periods Beach Energy - Media Release | 8 October 2025 "We understand the pressure facing manufacturers and I agree that manufacturing represents the highest value use of gas, however, it is important that the sector focuses on viable solutions to fix the east coast market through increased supply," he said. More than 215,000 Australian jobs are supported along the natural gas supply chain. The Australian natural gas industry contributes over $100 billion to the Australian economy each year, in addition to paying $22 billion in taxes and royalties in 2024-25 alone. For further information contact the following on 0401 037 140 Media Ken McGregor, Manager Media and Government Relations

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