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

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27 May 19, 8:20pm An ‘uplifting’ performance by Strange Fruit - swaying to the music @APPEACONFERENCE Welcome Reception #APPEA2019… https://t.co/ljAw4980Kz
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27 May 19, 7:40pm The exciting colour and flair of the #APPEAConf welcome reception #APPEA2019 https://t.co/vVdh4AN6G7
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27 May 19, 12:40pm The curtain raiser to #APPEAConf - Connect event on Australia’s challenges and opportunities in meeting Asia’s grow… https://t.co/iNc1w78Ugy
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27 May 19, 10:58am Delegate have started arriving for #APPEAConf #oilandgas #LNG https://t.co/hQgm290AP0
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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