How is Australia’s energy transition really going?

Friday 2 October 2026

The 2026 Statistical Review of World Energy, released in July, revealed that:

Oil consumption hit a record high.
Natural gas consumption hit a record high.
Coal consumption hit a record high.
Fossil fuels accounted for 86% of total energy supplied.
Carbon emissions from the consumption of fossil fuels hit a record high.

Last week, the Department of Climate Change, Energy, the Environment and Water released the Australian Energy Update 2026, which provides official data on energy supply and use in Australia.

The chart below summarises Australia’s primary energy use by fuel source since 1974:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.