The question criticises the Independent Market Operator (IMO) for allowing gas price increases due to supply disruption, suggesting it enables profiteering. It urges a review of the pricing methodology to consider pre-disruption contracted gas prices.

⏳ Awaiting AnswerQoN 6449Legislative Council
Asked
24 June 2008
Portfolio
Energy

QuestionView source ↗

(1) Is the Minister aware that such a massive gas price rise is regulated by the Government’s Independent Market Operator?
(2) Will the Minister explain the rationale by which the market regulator would produce a price outcome that endorses profiteering from the current gas supply disruption?
(3) As gas suppliers were selling gas profitably at much lower pre-disruption prices, will the Minister ask the regulators to urgently review their methodology to take account of contracted gas prices as the base price for calculating current market prices and thus stop the excessive exploitation of the current gas supply problem?
Answered on

AnswerView source ↗

This question is awaiting a response from the Minister.

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