The AER has published its first wholesale gas reserves price assumptions report following commencement of the National Gas Amendment (Market Transparency) Rule 2022. The AER is required to report on the 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.
The AER’s reserves price assumptions publications are intended to help build transparency around the field operator segment of the gas supply chain, informing the role of gas market participants, policy-makers and regulators in the East Coast Gas Market.
This report contains analysis of the contracted and uncontracted reserve price assumptions submitted to the AER since reporting commenced in March 2023. We have aggregated and anonymised the published data, as required under the National Gas Rules.
The report includes commentary on the AER’s compliance expectations and observations, noting that gas field owners are also required to annually report reserves and resources information to the Australian Energy Market Operator. We have also included feedback on the stakeholder consultations used to inform this report.
The AER is required to publish on gas reserve price assumptions at least annually and we will be considering the benefit of publishing intra-year updates. We will also consider enhancements to the analysis in our future reserve price assumption publications. We encourage stakeholder consideration of this report and welcome feedback at AERGasMarketsBB
AER [dot] gov [dot] au (AERGasMarketsBB[at]AER[dot]gov[dot]au).