Multinationals are "making a killing" from shipping Australian gas overseas, putting pressure on domestic supply, the Victorian government says.
The Australian Energy Market Operator is warning of a shortfall in gas-powered electricity on the eastern seaboard from the summer of 2018/19 onwards.
The shortfalls would start hitting Victoria's power supply by 2021.
"We need to now turn our minds to putting the interests of domestic energy consumers first, ahead of multinational companies that are making an absolute killing by digging up the ample supply of gas that we've got in our country," Victoria's energy minister Lily D'Ambrosio told reporters on Thursday.
Australian consumers are being hit with "higher gas prices, higher electricity prices, as we find there's a constraint going into 2021," she said.
Both the minister and Premier Daniel Andrews called on Prime Minister Malcolm Turnbull and federal Resources and Energy Minister Josh Frydenberg to show leadership and develop a national energy security policy.
Mr Andrews will write to Mr Turnbull asking him and other premiers to work together on the issue.
"The fact of the matter is Victoria exports well over half of its gas to chase the highest price, whether that's in Australia or other parts of the world," Mr Andrews told reporters.
"We want to have a proper debate about these things that relate to a domestic reserve, are we going to keep a portion of our gas for our consumers, our jobs and our future."
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