We are conducting the Gas Market Review jointly with the Department of Climate Change, Energy, the Environment and Water (DCCEEW).
The review will examine the:
- Australian Domestic Gas Security Mechanism (AGDSM)
- Gas Market Code (the Code)
- Heads of Agreement (HoA) with east coast liquified natural gas (LNG) exporters.
It will look at whether we can improve and streamline these instruments to ensure sufficient affordable gas supply in the longer term. This will help deliver on the Future Gas Strategy, which spells out the role gas will play alongside renewables, batteries and pumped hydro in securing Australia’s energy future.
A combined review ensures that we consider gas market regulation effectively and efficiently. This will help improve outcomes for market participants and minimise regulatory burden.
We’ll consider:
- the effectiveness of current policies and regulations
- whether the regulatory interventions remain suitable
- opportunities for streamlining and consolidating the regulatory approach
- alternative approaches to addressing current challenges.
We are seeking feedback from industry, stakeholders and anyone with an interest in the gas market.
We will provide a review report to the Minister for Climate Change and Energy and the Minister for Resources. The government will consider recommendations from the review and next steps. The current regulations will remain in place until we finalise the review and make changes. We’ll likely consult further on the details of any significant changes.