27th Nov 2023, 4:32 PM – Senate Regulations and Determinations - Competition and Consumer (Gas Market Code) Regulations 2023 - Disallowance

The majority voted against a motion:

That the Competition and Consumer (Gas Market Code) Regulations 2023, made under the Competition and Consumer Act 2010, be disallowed.

This motion was introduced by Queensland Senator Larissa Waters (Greens), who explained that:

From the outset, I want to make it clear that the Greens support cracking down on the unscrupulous conduct of the gas cartel. This gas code does have many important features that we support. We support shifting negotiating power away from the gas cartel and supporting large industrial users who have been screwed over by gas exporters since the east coast was opened up for exports in 2015. We support the transparency changes so that we can better see what's happening in what is otherwise a very murky gas market. We also support using the code to divert gas destined for export to be used here while we transition off gas. But what we cannot and will not vote for is using this gas code to encourage the opening up of new gas fields that are cooking our planet; we cannot support throwing more petrol on that fire.

[...]

We are conscious that there's a gas shortfall hitting the east coast market from 2027 onwards, and that something needs to be done about it. There are three things that the government could do in the four years that we have to prepare for that. They could increase supply through new toxic gas fields. They could reduce demand by electrifying homes, businesses and industry. They could divert existing gas supplies away from the LNG industry, which is the biggest user of gas in this country, and fill the supply gap that way. But it seems like the government is putting all of its energy into simply opening up new gas fields and is completely neglecting the importance of getting Australia off gas and lowering energy bills as a result of doing so.