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circumstances in which expressions of interest, initial offers or final offers can be withdrawn or terminated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.
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 an enquiry about the application or assessment process for a conditional exemption to gasmandatorycode@dcceew.gov.au.
Public registers of exemptions from the code
The ACCC publishes information about exemptions from the Gas Market Code.
We have special arrangements for people who want to anonymously report a potential breach of these rules to the ACCC.
We use a secure third-party platform that protects your identity. You stay completely anonymous when giving us a tipoff or having ongoing contact with the ACCC.