Gas Market Code

Purpose of the Gas Market Code

The Competition and Consumer (Gas Market Code) Regulations 2023 commenced on 11 July 2023. There was a transition period of 2 months before most of the obligations contained in the code took 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.

The guidelines on our approach to compliance and enforcement of the code summarise:

• the code’s key requirements
• available exemptions
• avoidance schemes under section 53ZQ of the Competition and Consumer Act 2010
• consequences for non-compliance including penalties.

Record keeping, reporting and publication guidance

The record keeping, reporting and publication rules in the code require suppliers to:

• record certain information
• report certain information to the ACCC
• publish certain information on the supplier’s website.

We have prepared a reporting guide to support suppliers’ compliance with these rules.

The guide sets out:

• the timing and format for reporting or publishing certain information
• guidance on how to submit information to the ACCC
• if the ACCC has or is intending to make a determination under certain provisions of the code.

Approved forms

We also have approved forms for the obligations under sections 33, 34, 35, 40 and 41 of the code.

Section 33 submission workbook ( XLSX 210.59 KB )
Section 34 publication table ( DOCX 112.77 KB )
Section 35 form ( XLSX 67.79 KB )
Section 40 form ( XLSX 61.96 KB )
Section 41 form ( XLSX 74.25 KB )

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.

On 20 December 2023, the ACCC made determinations under sections 33(3), 34(3), 34(7) and 35(3). These determinations are effective from 1 April 2024. The determinations are available on the Federal Register of Legislation.

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:

• Exemptions register for small gas supplier exemption
• Exemptions register for suppliers with a conditional exemption

See also

Compliance and enforcement guidelines on the Gas Market Code

Guidance on the conditional Ministerial exemption process