The AEMC today made a final 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 final 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 final rule will increase the amount and frequency of data reported on the Bulletin Board, along with greater data accuracy requirements and a stronger compliance framework. The final 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 final rule:

  • establishes a new registration framework and threshold to clarify who has to provide information to the Bulletin Board
  • establishes a new reporting framework so that facilities that may have a material impact on the market are required to provide information
  • introduces a reporting standard so information is presented in a consistent way
  • changes the way the costs of operating the Bulletin Board are recovered so there is consistency in the way costs are collected from participants
  • adds a biennial reporting requirement for AEMO to make sure the Bulletin Board stays up to date and useful.

This request was fast-tracked due to the importance of an efficiently operating gas market and also because the AEMC had already consulted extensively on potential changes to the Bulletin Board through our Gas review.

Under the final rule, AEMO must prepare and implement the new Bulletin Board Procedures by 30 April 2018. Changes to the cost recovery provisions will start in May 2018 the remaining parts of the rule will start in September 2018.

Media: Prudence Anderson, Communications Director, 0404 821 935 or DL (02) 8296 7817