On 19 April 2017 the Australian Government directed the ACCC to conduct a wide-ranging inquiry into the supply of and demand for natural gas in Australia. The ACCC is required to submit interim reports no less frequently than every six months and provide information to the market as appropriate. On 25 July 2019 the inquiry was extended, with a final report due 30 December 2025.
From 2017 until 2019, the ACCC released three interim reports each year. For the remainder of the inquiry, the ACCC will release two interim reports each year. The ACCC expects these reports to be released in June and December. The following topics will be reported on:
- gas prices
- supply and demand balance
- user experience
- transport prices.
In addition to these regular topics, the inquiry will undertake analysis into a number of other areas of interest. Examples of potential topics include:
- issues related to pipeline and storage facilities
- retailer pricing, costs and revenues
- reserves and resources
- key factors influencing domestic gas prices.
Note on COVID-19
The ACCC’s June 2020 report is largely on track but, given the circumstances, there could be some delay in providing the report to the Treasurer. The ACCC is also carefully considering the impacts on businesses of further information requests and consultation processes over 2020.