EnergyAustralia Pty Ltd (EnergyAustralia) has paid six infringement notices issued by the Australian Energy Regulator (AER) totalling $406,800 for alleged breaches of the National Gas Rules related to gas demand forecasting in short-term trading markets.
It’s alleged that EnergyAustralia breached section 410(1) of the National Gas Rules which imposes important obligations on participants in the short-term trading markets to provide best estimates of quantities of gas they expect to supply or withdraw at particular times. This obligation is critical to ensure gas is sold at the most efficient price.
The AER identified the alleged non-compliance during its monitoring of short-term trading markets which led to an investigation into the alleged conduct and the decision to issue these infringement notices.
This action is part of the AER's broader suite of enforcement action in relation to its 2022–23 compliance and enforcement priorities for wholesale gas markets (ensuring a competitive environment where downstream gas market participants have access to pipeline capacity), which includes the payment of 4 infringement notices by Incitec Pivot Ltd.