Australian Energy Market Commission CONSULTATION PAPER REVIEW OF THE GAS SUPPLY GUARANTEE 11 MARCH 2021 REVIEW Australian Energy Consultation paper Market Commission Review of the Gas Supply Guarantee 11 March 2021 INQUIRIES Australian Energy Market Commission GPO Box 2603 Sydney NSW 2000 E
[email protected] T (02) 8296 7800 Reference: EMO0041 CITATION AEMC, Review of the Gas Supply Guarantee, Consultation paper, 11 March 2021 ABOUT THE AEMC The AEMC reports to the Council of Australian Governments (COAG) through the COAG Energy Council. We have two functions. We make and amend the national electricity, gas and energy retail rules and conduct independent reviews for the COAG Energy Council. This work is copyright. The Copyright Act 1968 permits fair dealing for study, research, news reporting, criticism and review. Selected passages, tables or diagrams may be reproduced for such purposes provided acknowledgement of the source is included. Australian Energy Consultation paper Market Commission Review of the Gas Supply Guarantee 11 March 2021 CONTENTS 1 Introduction 1 1.1 Approach to this review 2 1.2 Responding to this paper 2 2 Background and current arrangements 3 2.1 Background 3 2.2 February 2017 load-shedding event in South Australia 5 2.3 Current arrangements 7 3 Changes in the electricity and gas markets since 2017 12 4 Assessment framework 13 4.1 Proposed assessment framework 14 5 Issues for consultation 15 5.1 Assessing the problem 15 5.2 Impact of the problem 17 5.3 Assessing potential solutions 17 Abbreviations 19 APPENDICES