'Not good enough': ACCC slams gas market for keeping prices too high


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The Australian Competition and Consumer Commission has slammed the gas market and the ban on exploration by some states, saying the fundamental supply problem is causing prices to stay too high.


Director of the ACCC’s gas inquiry unit, Nicole Ross, said there were three choices for the market, firstly it could return to a state of short supply and high demand, or stay on the current trajectory where governments are stepping in to work with gas companies to address market power issues.


“This is better than the first path, but not good enough; prices are still too high and fundamental problems remain,” she said.


Ms Ross said there is only one “real palatable choice”.


“[We have] to address the fundamental supply problem, particularly in the south. Increased gas supply on the east coast would better serve domestic gas users, especially when global prices are high,” Ms Ross said.


“However, this is not a choice for the ACCC; this is a choice for governments.”

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