The ACCC and Gas Market Reform Group (GMRG) have worked together to identify the information deficiencies in the east coast gas market and the steps that could be taken to improve transparency in the market. Through this joint work, it has become clear that further work is required to improve the transparency and quality of information on:
- reserves and resources, contracted reserves and other indicators of upstream activities
- infrastructure availability and developments
- wholesale gas prices, retail gas prices and the prices payable for infrastructure services (i.e. pipeline, compression and storage services)
- LNG shipments and prices.
If implemented, the proposed measures will improve the functioning of the gas market by ensuring that market participants have ready access to information they require to make informed decisions about gas consumption, production, transportation, investment and risk management in both the short and long run.
Further detail on our findings and recommendations can be found in the attached joint paper.