Energy

Interim authorisation for energy industry co-operation to address crisis

The ACCC has granted interim authorisation for a range of measures allowing participants in the gas and electricity markets to work together to support Australia’s energy supply and systems during the current crisis.

An urgent application for interim authorisation was lodged by the Australian Energy Market Operator (AEMO) on Wednesday this week. The ACCC has moved quickly to consider and approve the interim application.

Inquiry into the National Electricity Market - May 2022 report

This is the ACCC's seventh report as part of its inquiry into the prices, profits and margins in the supply of electricity in the National Electricity Market (NEM).

May 2022 report

On 23 May 2022, the ACCC finalised a report to the Treasurer as part of its inquiry into the prices, profits and margins in the supply of electricity in the National Electricity Market (NEM). We subsequently prepared an addendum to address the emerging energy price crisis. The ACCC published the report and addendum on 20 June 2022.

Mereenie gas field joint venture allowed to jointly market gas

The ACCC has today issued a determination allowing joint marketing arrangements between the four owners of the Mereenie gas field in the Northern Territory. It is located in the Amadeus Basin, approximately 250 km west of Alice Springs.

Central Petroleum, Macquarie Mereenie, New Zealand Oil and Gas, and Cue Energy are currently the joint venture partners in the field.

Woodside's proposed acquisition of BHP Petroleum not opposed

The ACCC will not oppose Woodside Petroleum Limited’s (ASX: WPL) proposed acquisition of BHP Petroleum International Pty Ltd, a wholly owned subsidiary of BHP (ASX: BHP).

Woodside and BHP Petroleum supply domestic natural gas in Western Australia, and export Liquefied Natural Gas (LNG), Liquefied Petroleum Gas (LPG), condensate and oil from Australia.

“We examined the proposed acquisition closely as it would combine two of the four largest domestic natural gas suppliers in Western Australia,” ACCC Chair Rod Sims said.

Inquiry into the National Electricity Market - November 2021 report

This is the ACCC's sixth report as part of its inquiry into the prices, profits and margins in the supply of electricity in the National Electricity Market.