Gas Market Parameter Review 2022

This notice informs all Registered Participants and interested parties (Consulted Persons) that AEMO is conducting the Gas Market Parameter Review 2022. The review covers the Declared Wholesale Gas Market (DWGM) and the Short Term Trading Market (STTM). This review is being conducted under rule 492 of the National Gas Rules (NGR) for the STTM market parameters, in accordance with the standard consultative procedure requirements detailed in rule 8 of the NGR. There is no rule requirement for the review of the DWGM market parameters, but AEMO has decided to review them in conjunction with the STTM market parameter review.

Matter under Consultation

The matters for this consultation are:

• The market parameters to be reviewed without modelling; and
• The initial analysis and proposed methodology for the market parameters to be modelled (see Market Reform consultation paper linked below)

Further details are provided in the Consultation papers published with this notice.

The parameters being reviewed are:

Approach

AEMO has appointed a consultant (Market Reform Pty Ltd) to model and make recommendations as to the values of the following parameters in both the STTM and DWGM:

• Market Price Cap / VoLL
• Administered Price Cap
• Cumulative Price Thresholds

AEMO will review the values of the following parameters in both the STTM and DWGM:

• Minimum Market Price
• CPT Horizon / Cumulative Price Period

Invitation to make submissions

AEMO invites written submissions on the matter under consultation, including any alternative or additional proposals you consider may better meet the objectives of this consultation and the national gas objective in section 23 of the National Gas Law in accordance with the timetable below.

Please identify any parts of your submission that you wish to remain confidential, and explain why. AEMO may still publish that information if it does not consider it to be confidential, but will consult with you before doing so.

Review Timetable

For further information, please contact GWCF_Correspondence@aemo.com.au.