- AEMO will lift the administered gas price cap tomorrow (8 June 2022) for the Brisbane and Sydney Short Term Trading Markets (STTM).
- Under the National Gas Rules, AEMO administered price caps in these markets following the gas retailer of last resort (RoLR) event involving Weston Energy (24 May 2022).
- However, the Sydney STTM has reached the cumulative price threshold ($440) due to high underlying market prices (before the price cap is applied) and will therefore remain capped at $40 per gigajoule under the National Gas Rules. This will remain capped until the cumulative price falls and remains below the threshold for a day.
- Victoria’s Declared Wholesale Gas Market (DWGM) remains capped at $40/GJ after reaching a cumulative high price threshold on 30 May.
- AEMO is monitoring gas supplies and will continue to work with market participants and stakeholders to minimise the risk of supply shortfalls.
ENDS
For more information: AEMO Media I M 0409 382 121 I E media@aemo.com.au