This is the first special report the AER has published since adopting a new model of wholesale market quarterly reports in Q1 2023. The publication of special reports replaces focus stories that were previously included in the wholesale markets quarterly report series.
On 23 June 2022, the National Gas Amendment (Market Transparency) Rule 2022 (Gas Transparency Measures) commenced. The goal of the Gas Transparency Measures was to address information gaps across the east coast gas industry. By facilitating a greater understanding of the conditions around gas market supply, demand and price, the reforms aim to promote competition and efficient market development.
A fundamental aspect of these reforms was the introduction of short-term transaction reporting by AEMO. As of March 15, 2023, market participants began submitting this information to AEMO, which in turn commenced publishing aggregated data on the Gas Bulletin Board.
This report provides analysis and insights into transactions reported to date, promoting awareness and transparency around the data and aiding price discovery in the gas market. The report also incorporates feedback from industry stakeholders on the effectiveness of current reporting practices and provides recommendations for enhancing future reporting, including strategies to address existing complexities in industry data reporting.