The AER has published its second wholesale gas reserves price assumptions report for contracted prices and uncontracted gas reserve price assumptions reported to the AER for the 2024 calendar year. The AER is required to report on the reserve price assumptions used by gas field owners to prepare gas reserve volume estimates. Gas field owners must annually submit their price assumptions to the AER at the same time they submit their reserve volume information to the Australian Energy Market Operator.
The AER’s reserves price assumptions publications are intended to help build transparency around the field operator segment of the gas supply chain, informing gas market participants, policymakers and regulators in the East Coast Gas Market. The publications also provide assurance that the AER is monitoring field owners for accurate reporting.
These reports contain analysis of the contracted and uncontracted reserve price assumptions submitted to the AER. For this report, we have added high-level, location-based analysis of uncontracted prices and provided insights into the price sensitivity of 2P reserve volumes. We will continue to consider further enhancements to the analysis in our future publications.
This report includes commentary on the AER’s compliance expectations and our observations since reporting commenced in March 2023.
The AER is required to publish these reports at least annually. We encourage stakeholder consideration of this report and welcome feedback at AERGasMarketsBB
AER [dot] gov [dot] au (AERGasMarketsBB[at]AER[dot]gov[dot]au).