Energy

More transparency on gas pricing

The ACCC’s Gas Inquiry 2017–20 Interim Report – April 2018 released today confirms that while conditions in the east coast gas market have improved since September 2017, the market is still not functioning effectively.

Prices offered to large commercial and industrial (C&I) gas users towards the end of 2017 were well below the peak of over $20/GJ in early 2017. After falling to a range of $8 to 12/GJ between June and November 2017, price offers made between November and January 2018 narrowed to $8 to 10/GJ for gas commodity.

Gas inquiry April 2018 interim report

This is the third interim report of the Australian Competition and Consumer Commission’s (ACCC) inquiry (‘the Inquiry’) into gas supply arrangements in Australia. The ACCC has continued its focus on the operation of the East Coast Gas Market, where there are immediate and longer-term concerns.

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.

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.

Gas inquiry December 2017 interim report

On 13 December 2017, the ACCC released its second interim report as part of its inquiry into Australia’s wholesale gas supply arrangements. The report focuses on the operation of the East Coast Gas Market, where there are continuing immediate and longer-term concerns.