Gas industry critical of the price cap legislation
Aussie gas industry calls for intervention clarity
New guidelines fail to quell industry criticism, while the prevalence of long-term contracts and Australia’s geography limit the efficacy of the reforms
Australia’s gas industry remains critical of the federal government’s price cap legislation, despite regulators issuing interim guidelines intended to reduce uncertainty over the market intervention measures. In December, the Australian government introduced the Gas Market Emergency Price Order, which imposed a A$12/GJ ($8.41/GJ) price cap for 12 months as part of an amendment extending the Competition and Consumer Act to cover the terms under which gas can be supplied or acquired. The cap “principally applies to gas sold by east coast and Northern Territory gas producers and their affiliates to wholesale customers in Australia”, says government watchdog the Australian Competition and Consum
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