Amending the Gas Act
Parliament has passed an Act that will improve information disclosure and increase the maximum financial penalty for breaching gas regulations
The Gas (Information Disclosure and Penalties) Amendment Act 2021 (the Amendment Act) was a response to issues identified following multiple outages at the Pohokura gas field in 2018 that restricted the supply of gas, led to high prices on the gas spot market, and elevated wholesale electricity prices.
The Amendment Act also increased the maximum fine that can be imposed by the Gas Rulings Panel for breaches of gas governance regulations from $20,000 to $200,000.
These amendments were informed by feedback received on the ’Options for amending the Gas Act 1992’ discussion document that went out for public consultation in 2019. This discussion document also sought views on possible changes to the Gas Act 1992 to ensure that it is not a barrier to developing hydrogen and biogas projects.
MBIE continues to work with stakeholders to understand if any changes to the regulations under the Gas Act 1992 may be needed to ensure that it does not pose a barrier to emerging renewable gases.