A PYMNTS Company

Australia: ACCC to target Australian gas pipeline monopoly

 |  December 13, 2017

The Australian Consumer and Competition Commission (ACCC) is looking to drive down energy prices by targeting the gas pipelines market, following the release of its domestic gas shortage inquiry.

The ACCC Gas Inquiry 2017-2020 report found that while action has been taken by energy companies to remedy a predicted domestic gas shortfall across the east coast, prices still remain high.

ACCC chairman Rod Sims said that while energy companies have acted to address a forecast domestic gas shortfall, the market remains challenging. Sims said the next major focus for the ACCC is reducing the impact of Australia’s pipeline monopoly.

“We want to regulate the pipeline monopoly,” Sims told press. “We can’t break up it as the situation is what it is, but there are actions we can take.”

The majority of Australia’s gas pipelines are owned by three companies: APA Group, Jemena, and Australian Gas Networks.

Sims said the ACCC will first ensure pipeline owners cannot stop others from accessing gas pipelines.

Full Content: Financial Review

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.