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Regulatory amendments to increase transparency in the gas market

Publication date

On 19 November 2020, Energy Senior Officials released for consultation a package of draft regulatory amendments required to give effect to the gas market transparency reforms as outlined in the Decision RIS endorsed by Energy Ministers in March 2020.

The consultation paper and non-confidential submissions received are available on this page.

On 20 July 2021, Energy Ministers agreed to further refinements to the framework, taking into account feedback provided in response to this consultation.

The transparency reform measures will enhance transparency in the eastern and northern Australian gas markets. This will address information gaps and asymmetries relating to:

  • gas and infrastructure prices
  • supply and availability of gas
  • gas demand
  • infrastructure used to supply gas to end-markets.

This contributes to:

  • the National Gas Objective, which is to ‘promote efficient investment in, and efficient operation and use of, natural gas services for the long terms interests of consumers of natural gas’
  • the Energy Ministers’ Vision, which is to ‘establish a liquid gas market that provides market signals for investments and supply, where responses to those signals are facilitated by a supportive investment and regulatory environment’
  • transparency reforms that will facilitate more efficient planning and investment in the domestic gas markets, provide more accurate signals about how well the market is functioning and enable market participants to more efficiently respond to changing market conditions
  • measures that will also promote competition by reducing search and transaction costs that gas users face during the price discovery process and by reducing the imbalance of bargaining power that users can face in each stage of the supply chain.

The agreed package progressed through the South Australian Parliamentary process in June 2022, with the South Australian Government Gazette no 41 (dated Thursday 23 June 2022) containing the following notices:

  • proclamation of the National Gas (South Australia) (Market Transparency) Amendment Act 2022 on page 1921
  • making of the National Gas (South Australia) (Market Transparency) Amendment Regulations 2022 on page 1934.

See the South Australian Government Gazette.

See the legislation:

Different schedules of the Rule will commence operation at different times, this is to ensure adequate time for both industry and market bodies to transition to the new framework and reporting requirements. The commencement timeframe for the schedules are as follows:

The transitional provisions (Schedule 6 of the Rule) came into operation on 30 June 2022.

Amendments to Part 15B – Procedures (Schedules 1 and 4 of the Rule) commence operation on 22 September 2022. This is the BB registration commencement date.

Amendments to Part 18 – Gas Bulletin Board (BB) (Schedule 5 of the Rule) commences operation on 15 December 2022. This is the BB reporting commencement date.

Amendments to Part 15D – Gas Statement of Opportunities (GSOO) (Schedule 2 of the Rule) commences operation on 15 February 2023. This is the GSOO survey commencement date, and the date when the initial GSOO Procedures take effect.

Amendments to Part 17 – Miscellaneous provisions relating to the AER (Schedule 3 of the Rule) commences operation on 14 April 2023. This is the pricing reporting commencement date.

As set out in r80(2) in Schedule 6 of the Rule, subject to any applicable exemption from registration under the new Bulletin Board (BB) registration rules, a person mentioned in r80(1) must apply to AEMO to register under the new BB registration rule as the BB reporting entity for the relevant BB facility, BB field or facility development project no later than 20 business days after the registration commencement date on 22 September 2022.

The transitional process towards commencement of registration and reporting requirements has begun, and AEMO will consult with relevant market participants on the revised BB Procedures and initial GSOO Procedures.

See the AEMO consultation page which contains all open and past AEMO consultations.

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