COAG Energy Council Gas Market Reform Package

Publication date: Friday, 19th August 2016.

THE COUNCIL OF AUSTRALIAN GOVERNMENTS (COAG) ENERGY COUNCIL RELEASES A COMPREHENSIVE GAS MARKET REFORM PACKAGE

The Australian gas market is undergoing significant structural change. Australia is on the cusp of becoming the world's largest liquefied natural gas (LNG) exporter, having seen investment of more than $200 billion in the past decade.   

In response to this structural change, Energy Ministers welcomed the release of the Australian Competition and Consumer Commission’s (ACCC) Inquiry into the East Coast Gas Market and the Australian Energy Market Commission’s (AEMC) Eastern Australian Wholesale Gas Market and Pipelines Framework Review: Stage 2 Final Report

Informed by the findings and recommendations of the two reports, the Energy Council has launched a comprehensive Gas Market Reform Package. The reform package comprises 15 reform measures in four priority areas: gas supply; market operation; gas transportation; and market transparency.

The Energy Council is committed to the implementation of this reform package to drive the achievement of its Australian Gas Market Vision for a liquid wholesale gas market where an efficient reference price provides signals for investment and new gas supply.

The Energy Council has established a dedicated Gas Market Reform Group to lead the implementation of gas market reforms.  More information is available here.

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