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Media release

New gas export limits a necessary response to supply and price impasse

Energy Consumers Australia today welcomed action by the Prime Minister to secure reliable, affordable supplies of gas for Australian households and small businesses.

Rosemary Sinclair, Energy Consumers Australia CEO, said the ongoing uncertainty about gas supply and pricing justified tougher measures to limit exports if domestic supply does not meet the needs of Australian consumers and businesses.

“The situation on the wholesale gas market is now starting to flow through to households and small businesses who are experiencing gas and electricity price increases of ten per cent and greater.”[1]

Ms Sinclair said that gas and electricity prices had doubled in recent years and trust in the energy sector was already low.

“The Essential Poll earlier this week shows there is a strong community expectation that the Australian Government take action where the market is not delivering reliable and affordable energy for consumers.”[2]

Ms Sinclair said the Domestic Gas Security Mechanism announced by the Prime Minister complemented the work by the Australian Competition and Consumer Commission (ACCC) to review the retail electricity market and to monitor the gas market, and the Gas Market Reform work for COAG Energy Council Ministers chaired by Dr Michael Vertigan.

“We need to ensure that at every point in the supply chain, gas and electricity markets are delivering competitive outcomes for Australian households and small businesses.”

[1] The Independent Competition and Regulatory Commission ACT recently announced electricity price increases of 10.90 per cent to apply from 1 July 2017 (Read here).

The most recent St Vincent de Paul tariff tracker report (January 2017) for Victoria shows electricity and gas price increases of ten per cent and greater (Read here).

[2] Essential Vision Report