Note: A number of expressions used in this instrument are defined in the Act, including the following:
(a) agreement (see section 53B of the Act);
(b) Australia (see subsection 53E(2) of the Act);
(c) expression of interest (see section 53B of the Act);
(d) gas (see section 53B of the Act);
(e) gas exchange (see section 53B of the Act);
(f) offer (see section 53B of the Act).
(1) In this instrument:
Act means the Competition and Consumer Act 2010.
AEMO has the same meaning as in the Renewable Energy (Electricity) Act 2000.
affiliate of a regulated gas producer: see subsection 6(3).
annual turnover has the same meaning as in the Corporations Act 2001.
buyer gas final offer: a buyer gas final offer is an offer to acquire regulated gas that:
(a) is in a form that is capable of being accepted; and
(b) if accepted, gives rise to a binding agreement to acquire regulated gas.
conditional Ministerial exemption means a conditional Ministerial exemption under subsection 61(1).
counted gas: see subsection 55(4).
covered supplier: see subsection 6(1).
Energy Department means the Department administered by the Energy Minister.
Energy Minister means the Minister administering the Australian Energy Market Act 2004.
foundational agreement means an agreement for the supply of regulated gas where all the regulated gas will be sourced from undeveloped reserves, future development of contingent resources or prospective resources.
gas day means the period of 24 hours starting at 6 am Australian Eastern Standard Time.
gas EOI: a gas EOI is an expression of interest for the purpose of ascertaining whether a person is interested in acquiring regulated gas.
Note: Gas EOI is short for gas expression of interest.
gas EOI open period: if a person issues a gas EOI, the gas EOI open period is the period that:
(a) starts on the day the person issues the gas EOI; and
(b) ends on the day specified in the gas EOI.
Note: The day specified in the gas EOI must be at least 20 business days after the day on which the gas EOI is issued (see subsection 10(3)).
gas EOI response period: if a person (the supplier) issues a gas EOI, the gas EOI response period is the period that:
(a) starts on the day after the end of the gas EOI open period; and
(ii) if there are more than 24 other persons, each of which gives the supplier, in the gas EOI open period, a notice in writing stating that the other person has an interest in further negotiations in relation to the gas EOI—35 business days later.
gas final offer: a gas final offer is an offer to supply regulated gas that:
(a) is in a form that is capable of being accepted; and
(b) if accepted, gives rise to a binding agreement to supply regulated gas.
gas final offer open period: if a person (the supplier) issues a gas final offer to another person (the potential buyer), the gas final offer open period is the period that:
(a) starts on the day after the supplier issues the gas final offer; and
(i) the day specified in a document accompanying the gas final offer;
(ii) if the supplier and the potential buyer, in writing, fix a specified later day—that day.
Note: For subparagraph (b)(i), the day specified in the document accompanying the gas final offer must be (see subsection 20(3)):
(a) if the supplier and the potential buyer fix a day in writing before the issue of the gas final offer—that day; or
(b) otherwise—no earlier than 15 business days after the day on which the gas final offer is issued.
gas initial offer: an offer of basic terms forming the basis of negotiations for the purposes of entering into a binding agreement for the person making the offer to supply regulated gas is a gas initial offer if acceptance of the offer does not result in the entering into of such an agreement (but may lead to negotiations for the purposes of entering into such an agreement).
gas initial offer open period: if a person (the supplier) issues a gas initial offer to another person (the potential buyer), the gas initial offer open period is the period that:
(a) starts on the day after the supplier issues the gas initial offer; and
(i) the day specified in the gas initial offer;
(ii) if the gas initial offer is varied or reissued—the day specified in the varied or reissued gas initial offer;
(iii) if the supplier and the potential buyer, in writing, fix a specified later day—that day.
Note: For subparagraph (b)(i), the day specified in the gas initial offer must be (see subsection 16(3)):
(a) if the supplier and the potential buyer fix a day in writing before the issue of the gas initial offer—that day; or
(b) otherwise—no earlier than 15 business days after the day on which the gas initial offer is issued.
gas initial offer response period: if a person (the supplier) issues a gas initial offer to another person, and the other person gives the supplier a notice in writing stating that the other person has an interest in receiving a gas final offer in relation to the gas initial offer, the gas initial offer response period is the period that:
(a) starts on the day after the other person gives the notice; and
(i) 30 business days after the day mentioned in paragraph (a);
(ii) if the supplier and the other person agree in writing on a later day—that later day.
gas penalty provision: see section 60.
gas pricing penalty provision: see section 60.
gas swap agreement means an agreement to:
(a) swap a quantity of regulated gas at one location for the same quantity of regulated gas at a different location; or
(b) swap a quantity of regulated gas at a location at one time for the same quantity of regulated gas at the same location at a different time.
gas trading exchange means a gas trading exchange established by AEMO under subsection 91BRK(1) of the National Gas Law.
gas trading exchange agreement has the same meaning as in the National Gas Law.
Industry Minister means the Minister who:
(a) administers the Industry Research and Development Act 1986; and
(b) is responsible for industry policy.
liquefied natural gas has the same meaning as in the National Greenhouse and Energy Reporting Regulations 2008.
mandatory government agreement means an agreement for the supply of regulated gas that a person has entered into because of a direction issued under the National Gas Law.
material change in the supplier’s circumstances: see subsection 22(2).
National Energy Retail Law means the National Energy Retail Law set out in the Schedule to the National Energy Retail Law (South Australia) Act 2011 (SA), as in force from time to time.
National Gas Law means the National Gas Law set out in the Schedule to the National Gas (South Australia) Act 2008 (SA), as in force from time to time.
price cap Order means the Competition and Consumer (Gas Market Emergency Price) Order 2022.
reasonable price: see section 29.
regulated gas means gas that:
(a) is in a gaseous state at standard temperature and pressure; and
(b) consists of naturally occurring hydrocarbons, or a naturally occurring mixture of hydrocarbons and non‑hydrocarbons, the principal constituent of which is methane; and
(c) is suitable for consumption; and
(d) is not liquefied natural gas; and
(e) is not re‑gasified natural gas that was imported as liquefied natural gas.
Note: Regulated gas is a gas commodity (see section 53B of the Act).
regulated gas producer: see section 5.
Resources Department means the Department administered by the Resources Minister.
Resources Minister means the Minister who:
(a) administers the Offshore Petroleum and Greenhouse Gas Storage Act 2006; and
(b) is responsible for resources policy.
transition period means the period that:
(a) starts on the commencement of this instrument; and
(b) ends 2 months after that commencement.
uncontracted regulated gas: regulated gas is uncontracted regulated gas at a time if, at that time, there is no agreement to supply the regulated gas.
(2) To avoid doubt, an expression used in this instrument has the same meaning as in Part IVBB of the Act.
(3) To avoid doubt, a reference in this instrument to a price for regulated gas or a price for the supply of regulated gas does not include the price for the provision of transportation services or storage services in relation to the regulated gas.