Watchdog takes closer look at gas market

摘要

Australia's progress towards becoming the world's largest LNG producer faces a setback, as the country's natural gas market is confronted with rising prices because of a supply shortfall. The Australian Competition and Consumer Commission (ACCC) plans to examine how gas producers in eastern Australia are making supplies available for users after a directive from the government, which is facing political pressure as domestic prices rise above regional LNG spot values. The ACCC will monitor the wholesale gas market in eastern Australia using its inquiry powers, which are greater than those at the current regulators that oversee the domestic gas market. "Improved transparency will provide a clear overview of the entire market and help ensure that it is operating efficiently and that competition is benefiting all users," ACCC chairman Rod Sims says.