The AEMC today released a wholesale gas markets discussion paper for consultation as part of the East Coast Wholesale Gas Market and Pipeline Frameworks Review.
The objective of the paper is to continue to progress the debate on gas market development and how best to achieve the Vision for Australia’s future gas market set by the COAG Energy Council.
The Discussion Paper expands on the requirements for the development of a liquid wholesale gas market and what such a market might look like on the east coast of Australia. The paper also discusses the role of gas hubs, sets out why physical and financial trading of gas takes place and outlines how physical imbalances can be managed. Three high level market design concepts have been developed as a way of seeking targeted feedback from stakeholders.
This Discussion Paper follows the release of the AEMC’s Stage 1 Final Report, which was published on 23 July 2015, and marks the commencement of Stage 2 of the review.
Submissions to the Discussion Paper close on 10 September and the AEMC will be considering feedback received through the consultation process as we prepare the Stage 2 Draft Report.