The AEMC today made a draft rule on the COAG Energy Council’s request to enhance the breadth and accuracy of information provided to the market through the Natural Gas Bulletin Board.
The draft rule is part of the AEMC’s package of gas market reforms, endorsed by the Council, which are designed to support faster and more efficient gas trading and access to pipeline transportation along the east coast of Australia.
The Bulletin Board, managed by the Australian Energy Market Operator, provides up-to-date gas system and market information to help participants make more informed decisions about trading, investing in, or using gas. The draft rule would increase the amount and frequency of data reported on the Bulletin Board, along with greater data accuracy requirements and a stronger compliance framework.
The draft rule reflects the recommendations made by the Commission in our East Coast Gas Market and Pipeline Frameworks review and outlined in the Stage 2 Final Report: Information Provision.
The draft rule:
• clarifies the purpose of the Bulletin Board
• removes the zonal model and establishes a new reporting model
• exempts remote pipelines from reporting obligations
• includes regional pipelines and facilities attached to regional or distribution pipelines in the reporting obligations
• establishes a new registration framework and threshold
• includes a reporting standard
• removes the market participant and AEMO cost recovery provisions
• adds a biennial reporting requirement for AEMO.
As part of the East Coast Gas Market and Pipeline Frameworks review, the Commission consulted extensively on the issues and recommendations which are addressed in the draft rule. As comprehensive consultation has already taken place, and given the importance of an efficiently operating gas market, we are using a fast-track process for this request.
Stakeholders are invited to make submissions on the draft rule determination and draft rule by 22 August 2017.
Media contact AEMC Communication Director: Prudence Anderson 0404 821 935 or (02) 8296 7817 – email@example.com