More Needs to be Done to Tackle High Gas Prices

Australia’s consumer watchdog has announced that households and businesses are paying too much for natural gas and that ‘greater effort is needed’ to secure fairer prices.

The Australian Competition & Consumer Commission (ACCC) Chair, Rod Sims, stated at an industry-related conference that stronger measures need to be taken to ensure the liquified natural gas (LNG) market is viable.

“Our gas inquiry continues to find the gas market is not a functional, competitive market,” Mr Sims said.

“We can see no end to the increasingly complex and difficult environment we are in, unless LNG producers and other gas suppliers, pipeline operators and governments all work together.”

Mr Sims explained that…