Today AEMC Chairman John Pierce addressed the fourth annual Australian Domestic Gas Outlook 2016 conference. His speech focused on the reform steps necessary to create a resilient wholesale gas market.
"An important aspect of the AEMC’s work in laying out gas market development path is that it’s not dependent on being in some part of the commodity cycle, or the economic cycle, or for that matter, the specific economic challenges of the day.
It’s about something far more fundamental: that consumers can see whether the price they are being offered for gas is a reasonable market price, and that the gas that is available goes to where it is valued most, thereby making a greater contribution to the value of Australia’s economic output.
For a range of reasons, we only have a relatively small window of opportunity to adjust our domestic gas market arrangements and make lasting change.”