December 15, 2017 Read More →

ACCC Sets Bar on Ground for Gas Industry to Jump Over

Renew Economy:

As Australia’s competition regulator and national consumer law champion, it beggars belief that the ACCC (Australian Competition and Consumer Commission) continues to pander to the gas cartel.

While it is true that there have been some falls in prices following on from the Prime Minister’s intervention in the Australian gas market, any improvement is illusory and fails to take account of the current global gas glut and falling contract prices globally.

Australian consumers continue to pay far too much for gas produced in Australia.

The ACCC Gas Inquiry 2017-2020 interim report contends that supply is better in the domestic market following the gas industry’s offer to divert some gas spot sales into the domestic market.

The market however remains “starved” of supply by the cartel of gas producers. They control the gas industry on the east coast to keep prices high.  So, while the market has gas, it does not have a meaningful surplus of gas.

ACCC sets bar on ground for gas industry to jump over

Posted in: IEEFA In the News

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