The AEMC today released a discussion paper for consultation as part of the Victorian Declared Wholesale Gas Market (DWGM) Review.

This discussion paper has been developed to progress the debate on gas market development and to provide stakeholders with the opportunity to provide more focussed feedback leading into the Draft Report for the DWGM Review, which the Commission will be releasing in December 2015.

The discussion paper identifies and discusses possible gaps in the existing market design and market carriage model under the themes of risk management, investment signals, market-driven investment, regulatory investment arrangements and exports.

Five high level packages for reform have then been developed. Each package includes one or more policy measures to address the gaps identified in the existing market design and regulatory framework in Victoria.

This discussion paper follows the release of the AEMC’s Stage 1 Final Report for the East Coast Wholesale Gas Markets and Pipeline Frameworks Review, which was published on 23 July 2015. The Victorian DWGM Review is one of four workstreams being progressed as part of Stage 2 of that broader review.

Submissions to the discussion paper close on 8 October 2015 and the AEMC will be considering feedback received through the consultation process as we prepare the Stage 2 Draft Report.