For many years the EUAA have been strong advocates for gas market reform, warning of a looming crisis if policy makers did not act decisively. We pushed hard for the ACCC enquiry into the East Coast Gas Market and continue to support the implementation of it's key recommendations.
Many gas users are now finding out the hard way that the looming crisis is now an actual crisis with many reporting unprecedented increases in gas prices as they attempt to renegotiate long-term agreements.
Two pieces of useful information have come to light in recent days to further highlight these issues and the challenges ahead.
The first is the most recent gas market assessment from Energy Quest and the second is an assessment from Credit Suisse. I encourage you to read both pieces if you haven't already.
The EUAA have been active in national media again this week, highlighting the risks of economic destruction if the crisis is not dealt with in the coming months.
We will keep you informed of developments as they unfold.