Productivity Commission: red tape and market intervention threaten gas benefits

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19 December 17, 1:18pm The Review of Australia’s Climate Change Policies confirms that natural gas has a major part to play in achieving A… https://t.co/IQLYiBdj3X
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18 December 17, 2:14pm South Australian businesses and households stand to benefit from a State Government initiative aimed at boosting lo… https://t.co/C0pJlybeDD
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18 December 17, 2:13pm South Australian businesses and households stand to benefit from a State Government initiative aimed at boosting lo… https://t.co/DcQgh28bPL
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14 December 17, 3:34pm Western Australia could face a gas shortage if new supply is not developed in the next five to seven years. Banning… https://t.co/OlCYH9cHO3
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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Proposals and campaigns for market interventions such as domestic gas reservation should now be withdrawn following the release of a Productivity Commission report, Examining barriers to more efficient gas markets, released today.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.