Productivity Commission: red tape and market intervention threaten gas benefits

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6 January 21, 8:47am The Santos-operated Bayu-Undan joint venture has received a final investment decision for a drilling program in the… https://t.co/Nb0SxREiQO
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30 December 20, 9:55am Interventions aimed at artificially lowering gas prices for domestic users discourage crucial investment to maintai… https://t.co/S0RJ1DwQBb
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by APPEALtd

Proposals and campaigns for market interventions such as domestic gas reservation should now be withdrawn following the release of a Productivity Commission report, Examining barriers to more efficient gas markets, released today.

The Commission’s key finding – that developing a gas export industry in eastern Australia will deliver a net benefit to the community – is particularly welcome.”

The Commission also found that removing regulatory burdens restricting exploration and production of natural gas, particularly in Victoria and NSW, was the clear pathway to not only allowing the market to work more efficiently and effectively, but also bringing on more gas supply.

The report finds that the scientific evidence suggests that the technical challenges and risks can be managed through a well-designed regulatory regime.

The Productivity Commission’s report can be viewed here.