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About the gas price cap and exemptions
The Competition and Consumer (Gas Market Emergency Price) Order 2022 is an emergency measure that applied a temporary price cap on the supply of regulated gas.
This emergency measure applied to new contract sales of gas from 23 December 2022 to December 2023.
Under the emergency measure, some regulated gas producers and affiliates of regulated gas producers applied for a price cap exemption. The Minister delegated the power to grant price cap exemptions to the ACCC. The ACCC only granted a price cap exemption when it was satisfied to be appropriate, having regard to the matters mentioned in the Order. See public register of gas price cap exemptions.
The Minister made this emergency measure under Part IVBB of the Competition and Consumer Act 2010.
Gas price cap compliance and enforcement guidelines
The ACCC has prepared guidelines that set out our position on the investigation and enforcement of possible contraventions of the Order.
The guidelines also cover the new provisions under the Competition and Consumer Act 2010 prohibiting conduct which avoids the application of the Order (avoidance conduct).
See the Gas price cap compliance and enforcement guidelines.
Background to the emergency price orders
In December 2022, the Competition and Consumer Act 2010 was amended to introduce a new part that relates to the gas market. Under this new part, the Minister may make orders, known as emergency gas market price orders, regulating the terms (including prices) on which gas is supplied or acquired.
On 23 December 2022, the Order made by the Minister under the Competition and Consumer (Gas Market Emergency Price) Order 2022 came into effect which set a price cap of $12 per gigajoule.
The Minister delegated the power to grant a price cap exemption to the ACCC.
The Act was also amended to prohibit conduct engaged in for the purpose of avoiding the application of an order, and to allow for a mandatory code of conduct to be introduced.
The ACCC is responsible for enforcing these laws.