OPINION: Gas companies privately grumble the ACCC is being deliberately alarmist in warning of a looming shortfall.
next year. They insist, for example, that it’s obvious not all excess gas will be exported – certainly not over winter months when it’s most needed.But with global gas and oil prices having risen so dramatically, domestic customers – particularly commercial and industrial users – are forced to pay much higher prices for new contracts.
According to the ACCC, some LNG exporters are not engaging with domestic customers in the spirit of the heads of agreement negotiated with the former Coalition government five years ago. This includes a commitment “to make gas broadly and transparently available to all domestic commercial and industrial users at demonstrably competitive prices” and with sufficient notice.
This is a protracted, complicated process but once notice of intent is issued, gas producers must provide information on gas production, export volumes and the market outlook. It’s why Treasurer Jim Chalmers says the federal government is looking for solutions not unnecessary conflict.
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