Enhancing Australia's Economic Prosperity
Resources Energy Tourism Department

Energy

The Australian Government is committed to the provision of adequate, reliable and affordable energy to meet future energy consumption needs and to underpin strong economic growth, consistent with the principles of environmental responsibility and sustainable development.
Gas Market Development

Natural gas is expected to play a key transitional role in meeting Australia's energy needs as we move towards a carbon constrained economy. With associated growth in the use of natural gas for electricity generation, there are also growing links and interdependencies between the gas and electricity markets.

The Department of Resources, Energy and Tourism drives Commonwealth gas market policy in the energy market reform program being implemented by the Ministerial Council on Energy External Link . Key streams of this program include the development of a national regulatory regime for gas pipelines and retail markets, and further market development to improve transparency, competition and trading opportunities.The MCE has also established the Gas Market Leaders Group (GMLG), a collection of key representatives from all sectors of the gas supply and demand chain, to further reform the operation of gas markets around the country. The GMLG:

  • has developed a gas market Bulletin BoardExternal Link, a website which provides daily information about gas infrastructure and gas supply and demand, and provides market participants with opportunities for trading gas
  • is now designing a new gas wholesale trading market, to be implemented in Sydney and Adelaide initially, to complement the existing wholesale gas market operating in Victoria.

A further initiative being developed by the GMLG is an annual Gas Statement of Opportunities. Once completed, the Gas Statement of Opportunities will be published by the Australian Energy Market Operator and will complement the Statement of Opportunities produced for the electricity market. This document is intended to provide a source of information to assist industry participants and other interested parties in their planning and identification of potential investment opportunities. It will also be available as an information tool for policy makers examining the projected short and long-term reliability of the nation’s gas supply.

Further information on all of these reforms is available at the Ministerial Council on Energy External Link website.

Page Last Updated: 24/02/2009 10:18 AM