Proposed rule changes to declared wholesale gas market

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Three rule changes proposed by the Victorian Minister for Energy, Environment and Climate Change, which aim to improve the declared wholesale gas market (DWGM), are under consideration by the AEMC.

The AEMC held a public workshop on 16 May 2019 in Melbourne to obtain consultation on the rule changes. The AEMC welcomed input from representatives of industry, state governments and regulators.

The rule change requests propose to:

  • Introduce a simpler wholesale gas price for the DWGM in Victoria
  • Establish a forward trading exchange which will make it easier for buyers and sellers to trade gas and lock in a future price in the Victorian gas market
  • Improve the allocation and trading of pipeline capacity rights

The rule changes are based on recommendations in the AEMC’s 2017 Review of the Victorian declared wholesale gas market. A rule change request submitted by AEMO, on behalf of EnergyAustralia, has been consolidated with the DWGM simpler wholesale price rule change as it was seeking to address similar issues.

Draft determinations on each of the three rule changes are due to be published on 4 July 2019.

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