The Australian Energy Market Commission (AEMC) last week held a public forum to inform the East Coast Wholesale Gas Market and Pipeline Frameworks Review.
The forum was attended by more than 70 representatives of gas pipeline owners, retailers, producers, large consumers, consumer groups and other market regulatory bodies.
Participants heard from nine presenters from energy market bodies, market participants and other experts covering a range of topics being looked at in the review. The presentations are available to download from the AEMC website, via the project page.
The AEMC explained the background to the review, with new dynamics in the east coast gas market driving the need to consider whether the current arrangements will allow the market to most readily adapt to changing supply and demand conditions over the long term.
The review will therefore look at how gas is bought and sold once it leaves the ground and will consider whether improvements are needed to improve the efficiency of trading markets, to allow for more effective risk management and to strengthen signals and incentives for efficient access to, use of and investment in pipeline capacity.
The forum provided an early opportunity for participants to discuss their views on the issues to be considered in the review, including those raised in the AEMC’s brief discussion paper.
The AEMC now encourages interested stakeholders to provide a written submission by 26 March. This feedback will help the Commission develop a draft report on stage one of the review which covers the overall direction for east coast market development, including any actions for immediate implementation.
The Commission expects to release the draft report on stage one of the review for further consultation in late April with the final report due with the COAG Energy Council in June 2015.
Stage two of the Commission’s review will be carried out in the second half of this year and will more fully develop any necessary medium and long term market adjustments.
The AEMC’s east coast gas market review supports the Commission’s work to make gas a strategic priority for energy market development. More information about the AEMC’s Strategic Priorities is available on the AEMC website.
For information contact:
Media: Communications Manager, Prudence Anderson 0404 821 935 or (02) 8296 7817