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The Government has given themselves a bigger stick. We hope they won't need to use it.

April 27, 2017

The EUAA welcomes today’s announcement by the Federal Government of the Australian Domestic Gas Security Mechanism that will give it the power to limit gas exports.

We are heartened to see the Government recognising there are critical domestic gas supply and cost issues that must be addressed.

Our view is that with the introduction of the gas security mechanism, the Government has given themselves a bigger stick to ensure the gas industry balances the needs of their international customers and their obligation to supply the domestic market with gas at a fair price.

However, the gas security mechanism does not guarantee the Government will intervene in the market and we hope it doesn’t have to come to that.  We would much prefer that the gas industry itself develops a solution to the current crisis that allows Australian business and households access to gas at fair and reasonable prices.

Full press release here

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