Options to ensure the domestic wholesale gas market delivers for Australians

Consultations have now closed on the draft Bill, the price cap section of the consultation paper and the draft price order instrument.

Consultation on the remainder of the consultation paper closes on 7 February 2023.

 

2 days left to have your say
Date
-
Consultation Type
Consultation Paper

Key Documents

This consultation paper seeks input on the design of the gas elements of the Government’s plan to address high energy prices and ensure that our wholesale gas markets deliver adequate supply at reasonable prices and on reasonable terms to domestic users.

A mandatory code of conduct is proposed, to address systemic issues within the wholesale gas market and guide participants’ behaviour. As part of the code, a reasonable pricing framework will provide a basis for producers and buyers to negotiate domestic wholesale gas contracts at ‘reasonable prices’, which should reflect the cost of domestic gas production including a reasonable return.

A temporary, emergency price cap is also proposed to ensure domestic industry remains viable, and ensure households and businesses have access to affordable energy. A draft instrument to implement the price cap is available at Appendix B to the consultation paper.

Feedback is also sought on the draft Competition and Consumer Amendment (Gas Market) Bill 2022 and explanatory memorandum. If passed, the Bill will establish a new Part IVBB within the Competition and Consumer Act 2010, creating an enabling framework for implementation of the mandatory code and price cap.

The final design of these measures will be informed by responses to this consultation.

Responding

Consultation on the draft Bill closed on 13 December 2022.

Consultation on the price cap section of the consultation paper and the draft price order instrument closed on 15 December 2022.

Consultation on the remainder of the consultation paper closes on 7 February 2023.

Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

View our submission guidelines for further information.

How To Respond

Email

gasmarketconsultation@treasury.gov.au

Post

Address written submissions to:

Gas Market Consultation
Labour Market, Environment, Industry and Infrastructure Division
Treasury
Langton Cres
Parkes ACT 2600

Enquiries

Email: gasmarketconsultation@treasury.gov.au