ACCC report confirms urgent need to remove regulatory restrictions on gas supply

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25 February 20, 8:49am The #oilandgas industry remains hopeful the Victorian government will "see sense" and lift the moratorium on conven… https://t.co/BwS4OM1DgW
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24 February 20, 2:29pm The #oilandgas industry welcomes the Victorian Opposition @michaelobrienmp's announcement to support lifting the st… https://t.co/UHrhMNojlI
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24 February 20, 9:38am APPEA is calling for submissions for the prestigious 2020 Environment and Safety Excellence Awards highlighting out… https://t.co/TvcF24CeGS
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19 February 20, 11:22am NOW OPEN - Calling for submissions for APPEA's 2020 Environment and Safety Excellence Awards highlighting leadershi… https://t.co/fAYzSI9EBZ
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by APPEALtd

The Australian Competition and Consumer Commission (ACCC) East Coast Gas Inquiry Report, released today, confirms the urgent need for policy and regulatory changes to enhance gas supply.

The ACCC has called for the lifting of gas moratoria and has warned against the introduction of domestic gas reservation in its long-awaited  report of the Inquiry into the East Coast Gas Market, released on Friday 22 April.

The report found that onshore regulatory restrictions and hydraulic fracturing bans in NSW, Victoria and Tasmania – as well as a proposed fracking ban in the Northern Territory – had increased uncertainty and contributed to reducing investment in gas operations.

“While the inquiry acknowledges that there are understandable reasons for policy positions like moratoria, blanket moratoria and regulatory uncertainty act to curtail gas exploration and new production,” ACCC Chairman Rod Sims said.

The ACCC also said gas reservation policies should not be introduced, “given their likely detrimental effect already on uncertain supply.”

The report’s first two recommendations are:

ACCC east coast gas recommendations