The consumer watchdog has been told to investigate Australia’s gas market and compel industry figures to provide information in a bid to guarantee cheap and affordable energy.
News of the Australian Competition and Consumer Commission’s intervention came after Malcolm Turnbull met gas company chiefs in Canberra on Wednesday to try to resolve a looming domestic LNG supply crisis.
Mr Turnbull emerged from the meeting saying his government remained concerned exporters of east coast LNG had not articulated how Australian households and business would get adequate supply at reasonable prices.
“The government has asked the exporters to provide further information, in the context of possible regulatory options, to address the short-term market issues,” he said in a statement.
The ACCC’s three-year inquiry will scrutinise the pricing, volume and availability of domestic gas compared to gas that is being exported.
Full Content: The Sidney Morning Herald
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