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New gas initiative to promote competition and supply security.



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Minister for Resources and Energy, Minister for Tourism

NEW GAS INITIATIVE TO PROMOTE COMPETITION AND SUPPLY SECURITY The Minister for Resources and Energy, Martin Ferguson AM MP, has officially launched the gas market Bulletin Board, an important initiative for improving the transparency of the gas market, security of supply, and competition.

In a speech to the Energy Industry Breakfast in Melbourne, Minister Ferguson said: "The Bulletin Board represents the successful completion of the first step in the significant gas market initiatives developed by the industry-led Gas Market Leaders Group.

"I wish to thank the members of the Gas Market Leaders Group for their innovative and timely development of this initiative and I wish to acknowledge the Victorian Energy Networks Corporation for their work in hosting the Bulletin Board. Their technical experience and support has underpinned this opportunity for industry to lead the development of a more competitive, reliable and secure natural gas market in Australia."

The Victorian Energy Networks Corporation is the initial operator of the Bulletin Board, which can be accessed at www.gasbb.com.au.

The Bulletin Board, which commenced operation on 1 July 2008 under the National Gas Law, is intended to improve the security of supply through increased transparency and competition in the gas market, and to promote further efficient investment in gas infrastructure.

The Bulletin Board currently contains information on gas production and infrastructure in every state except Western Australia and the Northern Territory, with the ability for those jurisdictions to be included at a later date. The information provided will lead to a more efficient management of

supply and demand in the market, particularly in times of supply interruptions.

The operation of the Bulletin Board will become one of the functions of the Australian Energy Market Operator (AEMO) when it commences operation in 2009.

The AEMO is being established in response to a decision by the Council of Australian Governments in April 2007.

"The establishment of the AEMO is consistent with the national priority of promoting efficient investment in electricity and gas supplies for the long term benefit of consumers with respect to price, quality, safety, reliability and security," Minister Ferguson said.

Media contact: Michael Bradley - 0420 371 744

RET Minister > The Hon Martin Ferguson AM MP

The Hon Martin Ferguson AM MP

25 Jul 2008