Business

Draft decision for joint marketing of NT gas

The Australian Competition and Consumer Commission (ACCC) has released a draft determination proposing to authorise joint gas marketing arrangements between Central Petroleum (ASX: CTP) and Macquarie Mereenie.

Central and Macquarie are joint venture partners at the Mereenie oil and gas field, which is located in the Amadeus Basin in the Northern Territory, approximately 250 km west of Alice Springs.

Opening statement at the PC public hearing into Competition in the Australian Financial System

The ACCC welcomes the Productivity Commission’s (Commission) draft report into Competition in the Australian Financial System and the opportunity to appear at this hearing.

Among the Commission’s recommendations was the need for an existing regulator to be given the role of championing competition in the financial sector. The Commission anticipates that regulator would have a number of functions including, but not limited to, conducting transparent analyses of the impact on competition in the financial sector of prudential regulation and other regulatory measures.

East coast gas market supply imbalance needs to be addressed

Australia’s east coast gas market remains incredibly tight and users are paying for this with high prices and limited sources of competing supply.

The east coast gas market is at a crossroads and the only real choice is to address the fundamental supply problem, particularly in the south.

The supply situation is most stark in the case of the southern part of the east coast, with the ACCC’s gas inquiry finding that there is not enough production forecast in the southern states to meet southern demand in 2018.

2018 compliance & enforcement priorities

In his annual CEDA address, Chairman Rod Sims launched the ACCC's 2018 Compliance and Enforcement policy. This year, the ACCC will focus on consumer issues in broadband services and energy, competition in the financial services and commercial construction sectors, systemic consumer guarantee issues, and conduct that may contravene the new misuse of market power and concerted practices provisions.

ACCC proposes to re-authorise Qantas Emirates alliance

The ACCC is proposing to grant re-authorisation to an alliance between Qantas Airways Limited (ASX: QAN) and Emirates for a further five years.

The global alliance covers Qantas’ and Emirates’ air passenger and cargo transport operations. The ACCC first authorised the alliance in 2013 for five years.

“The ACCC considers that the alliance is likely to continue to result in a range of public benefits,” ACCC Commissioner Roger Featherston said.

ACCC allows Jetstar's Asian brands to coordinate

The ACCC has decided to re-authorise the continued coordination of three Qantas (ASX: QAN) Asian-based joint ventures: Jetstar Asia, Jetstar Pacific and Jetstar Japan.

The Jetstar joint venture airlines are also seeking to coordinate with their shareholding airlines Qantas, Japan Airlines and Vietnam Airlines, on passenger and cargo services within Asia.

The decision continues an ACCC authorisation made in 2013.