GAS INDUSTRY – AUSTRALIA – REGULATION

Big gas producers accused of predatory pricing

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Original article by Simon Johanson
The Age – Page: Online : 22-Sep-23

Energy Users Association of Australia CEO Andrew Richards has told a Senate inquiry into a new mandatory code of conduct for the gas industry that some of the sector’s behaviour can only be described as predatory. With the Association representing large commercial energy users, Richards told the inquiry that the code is essential to protecting businesses and households from what he contends is the gas industry’s unfair market power. The code currently covers gas producers selling into the wholesale market, but the inquiry was told it should be extended to cover gas retailers as well.

CORPORATES
ENERGY USERS ASSOCIATION OF AUSTRALIA

Policy doubt could derail domestic gas projects, Beach Energy warns

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Original article by Nick Toscano
The Age – Page: Online : 17-Jul-23

A mandatory code of conduct governing the gas sector was released in the week ending 14 July, with the code coming after ongoing friction between gas producers and the federal government over proposals aimed at curbing rising energy prices. The code sees the extension of a $12-a-gigajoule cap on domestic gas sales until 2025, but exempts smaller producers who sell all their gas locally domestically rather than export it offshore as liquefied natural gas (LNG). Beach Energy has confirmed it qualifies as a small producer under the code, but it has expressed concern that ongoing market interventions and regulatory burdens could discourage investments in new gas supply projects.

CORPORATES
BEACH ENERGY LIMITED – ASX BPT

Origin suitor EIG expects intervention

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Original article by Perry Williams
The Australian – Page: 13 & 16 : 14-Nov-22

US private equity firm EIG has teamed up with Canadian firm Brookfield to make a $18.4 billion bid for Origin Energy, with EIG expected to acquire Origin’s integrated gas business if the bid succeeds. EIG CEO R Blair Thomas says it has had to deal with windfall taxes and price caps at its German and UK operations, and expects that the federal government will intervene in Australia’s domestic gas market. Thomas says the gas industry needs to keep the public onside as it progresses through the energy transition, with many households angry about soaring gas prices.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, EIG GLOBAL ENERGY PARTNERS, BROOKFIELD ASSET MANAGEMENT INCORPORATED

Big gas buyers welcome Labor’s tough new stick on LNG exports

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Original article by Mark Ludlow, Angela Macdonald-Smith
The Australian Financial Review – Page: Online : 4-Sep-18

Opposition leader Bill Shorten said on 3 September that Labor would introduce a permanent gas export control trigger if it wins the next election. He said the trigger would be used if gas prices were getting too high, rather than just when shortages were being predicted. Saul Kavonic from Credit Suisse says such controls are a "blunt and ineffective tool" in terms of lowering gas prices, although Energy Users Association of Australia head Andrew Richards said Labor’s federal gas plan was "worth serious consideration".

CORPORATES
AUSTRALIAN LABOR PARTY, CREDIT SUISSE (AUSTRALIA) LIMITED, ENERGY USERS ASSOCIATION OF AUSTRALIA, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, SANTOS LIMITED – ASX STO, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION