Gas market transparency measures
On 19 April 2017 the Australian Government directed the ACCC to conduct a wide-ranging inquiry into the supply of and demand for wholesale gas in Australia, as well as to publish regular information on the supply and pricing of gas for the next three years.
Scope of inquiry
Matters to be monitored and considered by the inquiry will include:
- the pricing and availability of offers to supply gas
- the volumes of gas supplied or available for current or future supply, including natural gas extracted or produced in Australia, or imported into Australia
- the pricing, volume and availability of gas for domestic supply compared to the pricing, volume and availability of gas for export
- the pricing, volume and availability of other goods or services, such as goods or services for drilling, storing or processing gas, that enable, assist or facilitate the supply of gas or gas transportation services in Australia.
The ACCC will also work with Dr. Michael Vertigan to recommend longer term transparency measures. The scope of this work will cover the full supply chain, including producers, transporters and retailers.
The ACCC will provide six-monthly reports, in addition to publishing more regular information as appropriate. The first report is due October 2017.