The Gas Market Code is a mandatory industry code prescribed under Part IVBB of the Competition and Consumer Act 2010.
The purpose of the code is to ensure the domestic wholesale gas market supplies adequate gas at reasonable prices and on reasonable terms for both suppliers and buyers.
What the ACCC does
We investigate alleged breaches of the code.
We monitor and enforce compliance with conditional exemptions granted by the Minister.
We determine the reasonable price for wholesale gas.
We publish certain information relating to exemptions.
What the ACCC can't do
We don't take enforcement action in relation to gas retail prices.
We don't negotiate prices of gas on behalf of buyers.
We don't assess applications for conditional exemptions under the code.
On this page
Purpose of the Gas Market Code
The Competition and Consumer (Gas Market Code) Regulations 2023 commenced on 11 July 2023. There is a transition period of 2 months before most of the obligations contained in the code take effect.
The purpose of the code is to ensure the domestic wholesale gas market supplies adequate gas at reasonable prices and on reasonable terms for both suppliers and buyers.
Summary of requirements under the code
The code contains the following key requirements:
Procedural requirements in relation to negotiations and agreements to supply gas.
Price rules banning supply of gas above the reasonable price, as determined by the ACCC. The reasonable price is currently set at $12 per gigajoule.
Good faith rules for gas market participants negotiating and dealing with each other.
Record keeping, reporting and publication rules.
Compliance and enforcement guidelines
The ACCC is responsible for investigating and enforcing the Competition and Consumer Act 2010. This includes the Gas Market Code made under Part IVBB of the Act.
Submit any enquiries about record keeping and reporting to gascode@accc.gov.au
Determinations under the code
Certain sections of the code give the ACCC the power to make determinations for:
record keeping and reporting requirements
circumstances in which expressions of interest, initial offers or final offers can be withdrawn or terminated
specifying a reasonable price.
We must consult with the public about the proposed determination and consider any comments before making a determination.
We will publish further information about determinations on this page.
Exemptions from the code
We don't assess or give exemptions from the code. Suppliers seeking a conditional Ministerial exemption should view the guidance published by the Department of Climate Change, Energy, the Environment and Water.
Submit any enquiries about the application or assessment process for a conditional exemption to gasmandatorycode@dcceew.gov.au
The ACCC publishes information about the following exemptions: