{"id":100432,"date":"2025-10-03T04:05:14","date_gmt":"2025-10-03T04:05:14","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/100432\/"},"modified":"2025-10-03T04:05:14","modified_gmt":"2025-10-03T04:05:14","slug":"east-coast-gas-market-faces-uncertainty","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/100432\/","title":{"rendered":"East coast gas market faces uncertainty"},"content":{"rendered":"<p><strong>The Australian Competition and Consumer Commission (<a href=\"https:\/\/petroleumaustralia.com.au\/news_article\/accc-confirms-gas-supply-is-likely-to-be-in-surplus-in-2024\/\" rel=\"nofollow noopener\" target=\"_blank\">ACCC<\/a>) has warned that the complex mix of regulations governing the east coast gas market is fuelling the risk of domestic supply shortfalls and deterring much-needed investment, underscoring the importance of the Commonwealth\u2019s Gas Market Review to deliver long-term reform.<\/strong><\/p>\n<p>Australian Energy Producers Chief Executive Samantha McCulloch said the findings reaffirm concerns raised by producers that the existing framework is failing to support a competitive and functioning market.<\/p>\n<p>\u201cThe ACCC has confirmed the east coast gas market is not working for anyone, and eastern Australia faces increased risk of shortfalls and higher energy prices if these concerns are not addressed,\u201d McCulloch said.<\/p>\n<p>The latest Gas Inquiry report examined the Gas Market Code, the Australian Domestic Gas Security Mechanism (ADGSM) and the Heads of Agreement (HoAs) with Queensland LNG exporters.<\/p>\n<p>It concluded that \u201cthe instruments have not addressed underlying constraints\u201d in the gas market.<\/p>\n<p>The commission also found that the 2023 changes to the ADGSM \u201cappear to have had the unintended consequence of exacerbating the risk of domestic supply shortfalls.\u201d<\/p>\n<p>While the ACCC forecasts a surplus of 2\u201324 petajoules in the March quarter of 2026, shortfalls are projected from 2028 onwards.<\/p>\n<p>The inquiry also noted that long-term supply deals for 2026\u201327 have improved but remain below 2022 levels.<\/p>\n<p>McCulloch said the Gas Market Review represented an opportunity to move beyond \u201creactive market interventions and perpetual shortfall forecasts\u201d by delivering enduring reforms that boost supply and restore confidence in the market.<\/p>\n<p>\u201cThe priority must be addressing approval delays to unlock new gas supply close to where it is needed, and to work with gas producers and users on the design of a prospective gas reservation framework linked to new supply that provides longer term supply certainty,\u201d she said.<\/p>\n<p>Australian Energy Producers has put forward reforms that include a prospective reservation policy tied to new supply, streamlined approvals, the removal of reporting duplication, and measures to expand pipeline and storage capacity.<\/p>\n<p>\u201cIndustry stands ready to work with governments and gas users to ensure we have a well-supplied gas market to provide Australians with reliable and affordable energy,\u201d McCulloch said.<\/p>\n<p>                 Share this story<\/p>\n","protected":false},"excerpt":{"rendered":"The Australian Competition and Consumer Commission (ACCC) has warned that the complex mix of regulations governing the east&hellip;\n","protected":false},"author":2,"featured_media":100433,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[79,18,19,17,188],"class_list":{"0":"post-100432","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-eire","10":"tag-ie","11":"tag-ireland","12":"tag-markets"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/100432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=100432"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/100432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/100433"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=100432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=100432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=100432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}