Notice of Inquiry into the Australian gas market
On 19 April 2017 the Treasurer, the Hon Scott Morrison MP, issued a notice requiring the Australian Competition and Consumer Commission (ACCC) to hold an Inquiry to improve transparency and to monitor gas supply in Australia pursuant to subsection 95H(1) of the Competition and Consumer Act 2010. In particular, the Inquiry will look into:
- measures to improve the transparency of gas supply arrangements in Australia
- the supply by persons in the gas industry (including without limitation gas producers and gas retailers) of, and demand for, natural gas extracted or produced in Australia, or imported into Australia, and
- the supply of, and demand for, natural gas transportation services in Australia by persons in the gas industry (including without limitation gas pipeline operators and other persons who have access to pipeline capacity).
Matters to be monitored and taken into consideration in the Inquiry shall include, but not be restricted to:
- 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, and
- 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.
Conduct of the Inquiry
The Inquiry commenced on 19 April 2017.
This is not an Inquiry into supply by any particular person or persons, or by a State or Territory Authority.
The ACCC must submit interim reports at least every six months and provide information to the market as appropriate. The ACCC must complete the Inquiry and submit its final report to the Treasurer by 30 April 2020.
Further information about the Inquiry can be found on the ACCC’s website (www.accc.gov.au).