Today the AEMC announced a further round of consultation on the Review of the Victorian declared wholesale gas market (DWGM).
In October 2016 the Commission published a draft final report with recommendations for reform to the DWGM. Stakeholders proposed a range of alternative reforms in their submissions to the report. We plan to release a discussion paper in late March 2017 to enable stakeholder input on these alternatives.
While a final decision has yet to be made on the timelines for the review, the Commission expects that the final report will be submitted to the COAG Energy Council and the Victorian Government by the end of August 2017.
This review of the Victorian DWGM aims to improve access to a reliable supply of efficiently priced gas for Victorian consumers, while maintaining Victoria’s key role in east coast gas markets as one of two wholesale gas trading hubs.
Recommendations for extensive gas market reform for Australia’s east coast were accepted by the COAG Energy Council in August 2016. The reform package included establishing wholesale gas markets with trading hubs concentrated in Victoria and Queensland; improving access to pipelines; and delivering new and improved information to gas businesses and consumers.
The COAG Energy Council has established a Gas Market Reform Group to implement the reform package in consultation with stakeholders. Work is already underway to improve gas pipeline transportation arrangements, and the development of a northern hub for gas trading at Wallumbilla in Queensland.
Prudence Anderson, Communications Director, 0404 821 935 or DL (02) 8296 7817