Competition and Consumer (Gas Market Code) (Subsections 33(3), 34(3), 34(7) and 35(3)) Determinations 2023

The instrument concentrates on three interlocking concepts: comprehensive contract and market transaction transparency for longer‑term gas supplies, standardised record retention, and periodic public reporting of supply availability.

1. Comprehensive contract and transaction transparency

   • Part 2 prescribes the universe of details a covered supplier must record when it enters into agreements to supply regulated gas (s 6), variations of agreements (s 8), agreements and variations that run 12 months or more (ss 7 and 9), supplier or buyer offers that relate to supplies of 12 months or more (s 10), and gas EOIs (s 11). The lists are detailed and prescriptive: for agreements they include a document identifier, type of agreement, buyer identity (name and, where applicable, ABN and ACN), whether the agreement is subject to an exemption under the Code, delivery points, delivery region, contract commencement and supply start/end dates, annual contract quantities (expressed in petajoules), the basin expected to be the predominant source, and whether an Australian market supply condition applies (s 6(1)(a)-(n)). For longer‑term agreements and variations the instrument further requires recording of pricing mechanism components (CPI base year/quarter/frequency, fixed price components and currency, commodity linked slope, measurement period, pricing formula), take or pay multipliers and load factors (ss 7(1), 9(1)). Offers and EOIs carry similarly granular fields (ss 10-11).
   • The instrument treats both supplier offers (gas initial offer; gas final offer) and buyer offers (buyer gas initial offer; buyer gas final offer) as recordable events where they relate to supply of 12 months or more (s 10(1)-(2)). It requires tracking whether offers were accepted, rejected, under consideration or superseded, and, where offers do not proceed to agreement, to keep the reasons why not (s 10(2)(d), (i)).

2. Standardised record retention

   • The instrument imposes a uniform records retention period of six years for the prescribed details (see repeated six‑year requirement in ss 6(2), 7(2), 8(2), 9(2), 10(4)-(5), 11(4)-(5)). The retention triggers differ depending on whether the offer proceeded to an agreement (retention counted from the agreement date) or not (retention counted from date the record was made) (ss 10(4)-(5), 11(4)-(5)).

3. Periodic publication and reporting of supply availability

   • The instrument fixes the two calendar days annually,1 April and 1 October,on which information must be published and reported under the Code's relevant paragraphs (ss 12 and 14). It requires that the publication statement under s 34(1) of the Code set out the volume of uncontracted regulated gas likely to be available to the covered supplier in each quarter of a 24‑month period starting on the day specified by s 12 (s 13).

Supporting concepts and definitions

• The instrument defines measurement and pricing vocabulary that are material to both recordkeeping and commercial contracts. It explicitly requires annual contract quantities in petajoules, measurement periods for commodity links, CPI base year/quarter/frequency details, pricing formulae and currency terms, commodity linked slopes, take‑or‑pay multipliers, load factors and whether banking rights exist (s 4, ss 7, 9, 10(3), 11(3)). It also provides a list of delivery regions (Queensland; Queensland,Carpentaria Gas Pipeline; New South Wales; Victoria; Northern Territory; South Australia; East Coast if supply to more than one region) which suppliers must use when recording the delivery region applicable to agreements, variations, offers and EOIs (e.g. ss 6(1)(h), 8(1)(g), 10(3)(b), 11(3)(d)).

Cross‑references to the Code

• The instrument consistently cross‑references the Code for threshold definitions and the statutory delegation of authority. The purpose statement for Part 2 indicates it is made for the purposes of paragraph 33(2)(m) of the Code (s 5). Publication timing (s 12) and published content (s 13) are attached to paragraph 34(2)(b) and subsection 34(6)(d) of the Code. Reporting timing (s 14) is tied to paragraph 35(2)(b) of the Code.

The instrument’s operative obligations fall on covered suppliers of regulated gas, as defined by the Code. The source text does not reproduce the definition of "covered supplier" or "regulated gas"; instead it notes they are defined in the Code and then applies obligations to the parties so defined (s 4, note). Consequently, determining whether an entity is captured requires reference to the Code.

Directly affected parties

• Covered suppliers: The instrument repeatedly prescribes actions to be taken by a covered supplier: to make and keep records of agreements, variations, offers and EOIs (ss 6-11), to publish an availability statement twice yearly (ss 12-13) and to report information twice yearly (s 14). The supplier therefore bears the compliance burden for data collection, record maintenance and statutory publication/reporting (see ss 6-11, 12-14).
• Buyers and prospective buyers: Buyers are the subjects of many of the prescribed data fields (name, ABN/ACN, whether the offer was accepted, rejected, etc.). The instrument defines "buyer" broadly as "a person supplied with, or who may be supplied with, regulated gas from a covered supplier" and notes examples: gas retailers, commercial and industrial users, and gas‑powered generators (s 4: buyer; note). Where buyers submit offers (buyer gas initial or final offers), those offers are recordable events if they relate to 12‑month or longer supply (s 10). For EOIs, suppliers must record names and ABN/ACN of recipients and respondents (s 11(2)(f)-(e)).
• Third parties who use published data: The instrument requires a public statement by suppliers about uncontracted regulated gas available across a 24‑month window (s 13). Market participants, analysts, regulators and counterparties will be consumers of that published information, though the instrument does not limit or specify the audience.

Indirectly affected parties

• Organisations that supply data or services to covered suppliers: IT vendors, legal teams and contract management providers will be engaged to implement the detailed data capture and retention requirements. The instrument’s prescriptive fields will require data models that capture contract identifiers, pricing formula components, loads and delivery points (ss 6-11).
• Entities whose commercial strategies depend on bilateral gas contracting: The information required to be recorded and published (pricing formulae, take‑or‑pay multipliers, load factors, uncontracted volume forecasts) can alter counterparties’ access to market information. The instrument does not itself prescribe how third parties may use the information; it prescribes availability of that information (s 13).

Who is not captured by the instrument

• Entities that are not covered suppliers under the Code are not subject to these obligations. The instrument explicitly defers to Code definitions: it does not itself expand or redefine "covered supplier" (s 4, note).
• Short‑term offers or supplies that are less than 12 months are largely outside the detailed requirements for offers and EOIs: s 10 and parts of ss 7 and 9 apply to agreements, offers and variations that cover 12 months or more.

Geographic scope

• The instrument uses a set list of delivery regions to classify delivery locations for record purposes,Queensland; Queensland,Carpentaria Gas Pipeline; New South Wales; Victoria; Northern Territory; South Australia; East Coast if multiple regions apply (e.g. ss 6(1)(h), 8(1)(g), 10(3)(b), 11(3)(d)). The list implies an east coast‑centric focus with particular attention to the Carpentaria Gas Pipeline and a residual "East Coast" aggregate where multiple regions are involved (s 4 and repeated lists). The instrument does not broaden or narrow the geographic definition of regulated gas; that remains a matter for the Code.

Who decides

• The instrument assigns the responsibilities to the covered supplier for capturing and publishing the required details; the ACCC made the determinations (signature and date provided at the head of the instrument). The instrument does not vest discretion to other agencies within its text; it states the prescribed days for publication/reporting and the list of required record fields. Any exemptions under the Code are to be recorded, but the instrument does not itself create exemptions (see ss 6(1)(e), 8(1)(d), 10(2)(h), 11(2)(c)).

Key duties

1. Record‑making duties

   • If a covered supplier enters into an agreement to supply regulated gas, it must make a record of detailed particulars about the agreement (s 6(1)). The required particulars include, among other items: document identifier, type of agreement, title, buyer identity and identifiers, whether the agreement is subject to an exemption under the Code, whether a variation determines the price (if applicable), delivery points and delivery region, commencement date of term and of supply, end date, annual contract quantities (in petajoules) or the quantity to be supplied if no annual contract quantity is specified, the basin expected to be the predominant source, and whether an Australian market supply condition applies including volume subject to that condition (s 6(1)(a)-(n).
   • Variations to agreements attract a similar record obligation (s 8(1)(a)-(m)). Where agreements or variations run for 12 months or more, additional detailed pricing and contract structure fields must be recorded (ss 7(1) and 9(1)): CPI base year/quarter/frequency, fixed price component and its currency and pricing formula, commodity linked slope and measurement period, take or pay multipliers (including variations or averages), and load factors.
   • Offers (supplier or buyer) that relate to supply for 12 months or more must be recorded with a specified set of fields: offer type, issue date, response date, status (accepted, rejected, under consideration, superseded), document identifier, buyer identity, origin from a gas EOI where relevant, exemptions under the Code, whether the offer proceeded to agreement and, if not, reasons, and if it did proceed the agreement document identifier (s 10(1)-(3)). The offer record must also include the commercial terms to the extent addressed in the offer (delivery points, region, start and end dates, annual contract quantity, take or pay, load factor, banking rights, CPI base details, fixed and commodity linked pricing components) (s 10(3)(a)-(k)).
   • Gas EOIs must be recorded with specified contents: identifier, issue date, whether subject to an exemption, number of recipients, number of respondents, names and ABN/ACN of recipients, URL of publication and publication date, opening and closing dates, whether a public holiday fell during the open period, whether the EOI proceeded to an initial/final offer and reasons if not, and if it did proceed the offer document identifier (s 11(2)-(3)).

2. Record retention duty

   • For all the above records the supplier must keep the prescribed records for six years: either starting after the agreement was entered into (if the offer proceeded to agreement) or starting after the record was made (if no agreement resulted) (ss 6(2), 7(2), 8(2), 9(2), 10(4)-(5), 11(4)-(5)).

3. Publication duty

   • For the purposes of s 34(1) of the Code, the supplier must publish a statement that sets out the volume of uncontracted regulated gas likely to be available to the covered supplier in each quarter of a 24‑month period starting on the day specified by s 12 (s 13). Section 12 fixes those starting days as 1 April and 1 October in each year (s 12).

4. Reporting duty

   • The instrument specifies 1 April and 1 October in each year as the days for reporting by suppliers under paragraph 35(2)(b) of the Code (s 14). The instrument does not itself prescribe the content of the report beyond this timing; content of the report is governed by the Code provisions referenced.

Key rights and qualifications in the instrument

• Exemptions under the Code: The instrument repeatedly requires suppliers to record whether an agreement, variation, offer or EOI is subject to an exemption under the Code, and to state which exemption applies (e.g. ss 6(1)(e), 8(1)(d), 10(2)(h), 11(2)(c)). The instrument does not create or define exemptions; those remain matters of the Code. Recording the existence and identity of any applicable exemption is a required duty rather than a right.
• Document identifiers: The instrument provides flexibility about what constitutes a document identifier, noting it can include the title of the document or a document number given to it by a computer program (notes at ss 6(1)(a), 8(1)(a)-(e), 10(2)(e), 11(2)(a), 11(2)(l)). This is an operational detail that reduces formality in how suppliers identify records.
• Defined vocabulary: The instrument defines key terms (s 4) for use in the record fields , such as annual contract quantity, take or pay multiplier, pricing formula for regulated gas, load factor , meaning suppliers may rely on the instrument’s definitions when implementing their data capture.

What the instrument does not do

• It does not, within its text, grant rights of access to the recorded files to third parties. The instrument specifies what covered suppliers must record and publish, but it does not specify public access to the six‑year records held by suppliers.
• It does not itself establish penalties or enforcement mechanisms; those are within the Code (s 3). The instrument is a determinations instrument that fleshes out information requirements under specified Code paragraphs.

The instrument specifies required records, retention periods, and timing for publications and reporting, but it does not itself set out penalty provisions or an enforcement mechanism. The instrument was made under specified subsections of the Code (s 3), and the power to make this instrument derives from the Code (ss 33(3), 34(3), 34(7) and 35(3)). Consequently, any penalties, compliance notices, infringement notices or enforcement actions remain the province of the Code and the broader regulatory framework established by the Competition and Consumer (Gas Market Code) Regulations 2023 and any enforcement powers vested in the ACCC by statute.

What to note in the instrument text

• Absence of penalty clauses: There is no provision in this instrument that creates fines, civil penalties, or criminal offences. Each obligation is framed as a duty imposed on a covered supplier without an accompanying sanction in the instrument itself (see Parts 2-4). The instrument’s introductory sections (s 3) explicitly identify the Code as the statutory source; enforcement consequences should therefore be considered in the context of the Code and any enabling legislation.
• ACCC as-making authority: The instrument is made by the ACCC (signature and date), so the ACCC is the issuer of this determinations instrument and will be the regulator most directly associated with its administration. That situates the ACCC as the primary enforcement authority for compliance with the Code and its determinative instruments, though the instrument does not specify enforcement steps (header and s 3).
• Recording of exemptions: The instrument requires suppliers to record whether an agreement, variation, offer or EOI is subject to an exemption under the Code and which exemption applies (e.g. ss 6(1)(e), 8(1)(d), 10(2)(h), 11(2)(c)). The requirement to record an exemption does not itself resolve whether the exemption is valid; it creates an auditable trail.

Practical implications for enforcement risk and evidentiary value

• Detailed records and six‑year retention likely create an evidentiary trail that the ACCC or other enforcement bodies may use in any compliance or enforcement activity under the Code. The instrument standardises what ought to be available in supplier records, which could reduce ambiguity when enforcing the Code.
• The instrument’s prescriptive fields (pricing formulae, CPI base year/quarter/frequency, commodity‑linked slope, take‑or‑pay, load factors, banking rights, delivery points and regions) create a set of objective data points that can be inspected for compliance with contractual rules or market conduct obligations in the Code, subject to the enforcement powers in the Code.

What the source does not provide

• The instrument itself does not state how breaches of the record/retention/publishing/reporting requirements will be enforced, whether by administrative directions, penalty notices, or court action. The enforcement framework and penalty quantum, if any, are not in the instrument and must be located in the Code or relevant statutes.

The instrument is an implementing determination under the Competition and Consumer (Gas Market Code) Regulations 2023 (the Code) and is tightly cross‑linked to those regulations. All definitions of key terms such as "covered supplier" and "regulated gas" are noted as being in the Code (s 4, note). The instrument does not purport to displace or vary other legal obligations outside the Code; rather it operationalises specified subsections of the Code by prescribing content and timing for records, publication and reporting (s 3).

Direct interactions cited in the instrument

• Code cross‑references: The instrument is expressly made under subsections 33(3), 34(3), 34(7) and 35(3) of the Code (s 3). The purpose of Part 2 is stated as "for the purposes of paragraph 33(2)(m) of the Code" (s 5). Publication timing and content are specified "for the purposes of paragraph 34(2)(b) of the Code" and subsection 34(6)(d) respectively (ss 12-13). Reporting timing is specified for the purposes of paragraph 35(2)(b) of the Code (s 14). The instrument therefore supplements and gives content to those particular Code provisions.
• Exemptions: The instrument requires recording of whether a particular agreement, variation, offer or EOI is subject to an exemption under the Code and which exemption applies (e.g. ss 6(1)(e), 8(1)(d), 10(2)(h), 11(2)(c)). That indicates the instrument expects the Code to contain exemption mechanisms that may alter the application of obligations, but the instrument itself does not define or grant exemptions.

Potentially relevant legal domains outside the Code (note: instrument does not address these directly)

• Corporations and records legislation: The instrument mandates record keeping for six years (repeated in Parts 2 and 3). Suppliers will need to reconcile these retention obligations with any corporate records, tax, or other statutory retention requirements under corporations or taxation law. The instrument does not displace those obligations; suppliers must comply with all applicable retention rules in different statutes. The instrument does not expressly address conflicts between different statutory retention regimes.
• Confidentiality and commercial information: The instrument requires recording and, in one respect, publishing commercial information (uncontracted volumes). It does not provide direction on what information is commercially sensitive, or on claims for confidentiality, nor does it provide a mechanism for redaction or non‑publication of identifiable commercial data beyond the explicit publication requirement in s 13. Any interaction with privacy laws (for any personal data) or trade secrets law remains outside the instrument and must be considered by suppliers.
• Competition, consumer and market‑conduct laws: The instrument was made by the ACCC under the Code. Its data obligations will feed into the ACCC’s oversight of market conduct in gas markets under competition and consumer law. The instrument itself does not amplify or limit the ACCC’s powers under the Competition and Consumer Act or other statutes; it is a determinations instrument in furtherance of the Code.
• State/Territory resource and land laws: The instrument asks suppliers to record whether an "Australian market supply condition" applies to the land from which regulated gas is produced, including volumes subject to that condition (s 6(1)(n), 8(1)(m)). That term is defined by reference to the Petroleum and Gas (Production and Safety) Act 2004 (Qld) (s 4: Australian market supply condition). The instrument therefore picks up a state statutory concept (Queensland) as material to nationally designed records. Suppliers operating under different state regimes will need to map state land and resource conditions into the recording template required by this instrument.
• Unit measurement and pricing terms: The instrument requires quantities in petajoules and pricing formula components expressed in defined ways (s 4 and ss 7, 9, 10(3)). Suppliers must reconcile internal commercial contract practices and unit conventions with the instrument’s specified units and terms.

Limits of the instrument’s interaction

• The instrument does not itself amend the Code or other statutes; it is a determinations instrument made under the Code. It clarifies content and timing obligations for records, publication and reporting only to the extent described in its provisions (s 3).

This instrument contains its own commencement and versioning information. Key points from the instrument itself are:

• Date of instrument: The instrument is dated 18 December 2023 (header and signature). It is made by the ACCC and signed by Gina Cass‑Gottlieb, Chair, ACCC (header).
• Commencement: The instrument provides a commencement table and states that "The whole of this instrument" commences on 1 April 2024 (s 2(1) and the Commencement table). The instrument includes a note that the table relates only to provisions as originally made and will not be amended in the instrument itself to deal with later amendments (s 2, note).
• Authority for amendment: The instrument states it is made under subsections 33(3), 34(3), 34(7) and 35(3) of the Code (s 3). Any future changes to the instrument would therefore be made under the same statutory authority, subject to the processes in the enabling legislation and regulations.
• No later amendments recorded in this instrument: The instrument contains an internal note that column 3 of the commencement table is not part of the instrument and may be edited or inserted in any published version (s 2(2)). That means the printed or published version of the instrument may include editorial commencement details but they are not part of the instrument’s legal text.

What the source does not provide

• The instrument does not record any prior versions, previous determinations, or earlier instruments that it replaces. It does not list amendment history beyond the original making and commencement instruction. There is no legislative amendment schedule or revision log contained in the instrument text itself.
• There are no transitional provisions or savings clauses in the instrument dealing with pre‑existing records or agreements entered before commencement; the instrument is silent on transition other than the commencement date (s 2). Suppliers will need to check the Code and any guidance for transitional arrangements.

Practical consequence

• As made, the instrument represents the baseline compliance obligations from 1 April 2024 until and unless it is subsequently amended. Any change in the prescribed fields, retention periods, reporting days, or publication content will require a further determinations instrument under the Code or amendment of the Code itself.

The instrument contains no litigation history, judicial interpretations or references to cases. It is a determinations instrument produced by the ACCC and the text does not record any legal challenges or court decisions about it.

Implications of absence of litigation history in the source

• There are no recorded judicial rulings, administrative appeals, or enforcement proceedings referenced in the instrument text. Consequently, the legal contours of compliance and enforcement are not illuminated by case law in the instrument itself; any litigation or interpretation would have to come after implementation and would be sourced from court records or tribunal decisions outside the instrument.
• Users seeking guidance on how courts might interpret the obligations in this instrument will need to consult the Code, any related regulations, and future case law that interprets either the Code or these determinations. The instrument itself does not supply that interpretive history.

How stakeholders should treat the absence of litigation history

• Treat the instrument as a fresh regulatory specification rather than a document that has been tested in litigation. The instrument sets out express requirements and definitions; absence of judicial gloss means contested points (for example, what constitutes sufficient evidence of a "measurement period" or how to calculate "the volume of uncontracted regulated gas that is likely to be available") will be matters for administrative guidance or future adjudication.
• Parties should document compliance decisions and have traceable audit trails given the six‑year retention requirement; this will assist in any future contestation about whether the instrument’s requirements were met.

The instrument is precise; its precision creates a number of practical compliance pitfalls and implementation traps. The following items are concrete, sourced to the instrument text, and likely to cause problems for suppliers who do not plan deliberately.

1. Definitions live in the Code

   • The instrument repeatedly states that a number of expressions are defined in the Code (s 4, note). Do not assume a term used in the instrument (for example, "covered supplier", "regulated gas", "gas initial offer") carries the plain English meaning. The legal definitions are in the Code and determine coverage and obligation triggers (s 4, note). Failure to consult the Code’s definitions risks mis‑identifying whether an entity is captured or a transaction is recordable.

2. 12‑month threshold for offers and pricing detail

   • Many of the detailed record obligations for offers (s 10) and for pricing components (ss 7 and 9) apply only where the agreement, variation or offer is for 12 months or more (ss 7(1) heading, 9(1) heading, 10(1)(b)). Contracts or offers below 12 months are therefore lessonerous in terms of the data the instrument requires. Suppliers must therefore implement logic to distinguish agreements/offers at the 12‑month threshold. Misclassifying an arrangement as short term when it is 12 months or more will trigger non‑compliance.

3. Timing of retention differs depending on outcome

   • If an offer proceeds to an agreement, retention is counted from when the agreement was entered into; if not, retention is counted from when the record was made (ss 10(4)-(5), 11(4)-(5)). Suppliers must therefore track not only the record but the pathway an offer followed. Poor process mapping between offers, EOIs, and final agreements will lead to retention miscalculations.

4. Publication timing is fixed and discrete

   • The instrument fixes publication days (s 12) and ties the publication content to the 24‑month window starting on the day specified by s 12 (s 13). Suppliers must produce a statement setting out uncontracted volumes for each quarter across a 24‑month period beginning 1 April or 1 October depending on the cycle. If internal forecasting or contract reporting calendars are set to other dates, reconciliation will be required. The fixed dates create a production schedule: 1 April and 1 October.

5. Specific units and metrics are mandatory

   • The instrument prescribes units (annual contract quantity in petajoules, CPI base quarter and base year, measurement period for commodity links), and specific pricing components (fixed price component excluding GST, currency terms, commodity linked slope, pricing formula, take‑or‑pay multiplier) (s 4; ss 7, 9, 10(3), 11(3)). Contracts that currently express volumes in other units or pricing in index terms not mapped to the instrument’s vocabulary will require conversion and documentation. Ensure unit conversion is documented and auditable.

6. Required recording of exemptions and market supply conditions

   • The instrument requires the supplier to record whether agreements, variations, offers or EOIs are subject to an exemption under the Code and to state which exemption applies (e.g. ss 6(1)(e), 8(1)(d), 10(2)(h), 11(2)(c)). It also requires recording whether an Australian market supply condition applies to the land from which gas is produced and the volume subject to that condition (ss 6(1)(n), 8(1)(m)). Suppliers must have a legal process for determining and documenting exemptions and for mapping state resource conditions (for example Queensland’s market supply condition) into national records.

7. Banked rights and load factors

   • Offers and EOIs must record whether banking rights exist and the load factor if present (s 10(3)(h), 10(3)(g), 11(3)(g)-(h)). Banking rights and load factors are contract mechanisms that may not be uniformly defined across suppliers; clarifying internal definitions and mapping them to the instrument’s requirements is necessary.

8. Public holiday flag in EOIs

   • EOIs must record whether a public holiday occurred during the period the EOI was open (s 11(2)(j)). This is an unusual operational field that suppliers may overlook, but it is required.

9. Document identifier flexibility is narrow in practice

   • Although the instrument allows a document identifier to be the title or a number assigned by a computer program (notes in ss 6(1)(a), 8(1)(a) and (e), 10(2)(e), 11(2)(a), 11(2)(l)), the practical implication is that suppliers should ensure consistent document identifiers across systems so the ACCC or auditors can match offers, EOIs and agreements. Failure to standardise identifiers will undermine the traceability the instrument expects.

10. Regional classification choices matter

• The instrument requires the supplier to select the most applicable delivery region from a closed list (e.g. s 6(1)(h)). For multi‑region supplies, the instrument specifies "East Coast, if supply is to more than one of the abovementioned regions" as the catch‑all (s 4 and repeated lists). Decisions about which delivery region to record are not trivial and should be made using consistent rules.

11. No explicit confidentiality carve outs

• The instrument requires the recording of materially commercial information and the public publication of uncontracted volumes (s 13), but it does not provide a confidentiality mechanism within its text. Suppliers with trade secrets or commercially sensitive pricing formulae should not assume this instrument provides protection; they should consult the Code and any applicable confidentiality provisions elsewhere.

12. Start date mechanics for published 24‑month window

• Section 13 requires that the statement set out volumes for each quarter occurring in a 24‑month period "starting on a day specified by section 12". Section 12 specifies two days (1 April and 1 October). Suppliers must therefore be clear about which of the two annual statements is being prepared and whether the 24‑month window starts on the same day each year or rolls depending on which of the two specification days applies.

This section sets out step‑by‑step actions and a compliance checklist grounded in the instrument’s text. The steps cover governance, data systems, procedures and an audit trail aligned to the exact fields and timing prescribed.

1. Confirm coverage

   • Check the Code definitions to confirm whether the entity is a "covered supplier" and whether the gas in question is "regulated gas". The instrument assumes those defined terms exist in the Code (s 4, note). Do not assume coverage without referring to the Code.

2. Map contractual lifecycle to record obligations

   • Create a decision tree linking contract events to record obligations:
     • Agreement entered into to supply regulated gas → record fields listed in s 6(1); retain for six years from agreement date (s 6(2)).
     • Agreement or variation of 12 months or more → record additional pricing and structural details listed in ss 7(1) and 9(1); retain for six years from agreement date (ss 7(2), 9(2)).
     • Variation to an agreement → record variation fields in s 8(1); retain six years from variation date (s 8(2)).
     • Supplier or buyer offer that would supply regulated gas for 12 months or more → record offer fields in s 10(2)-(3); if offer results in agreement, retention starts after agreement date; otherwise retention starts after record creation (s 10(4)-(5)).
     • Gas EOI issued → record fields in s 11(2)-(3); retention six years from agreement date if EOI proceeds to agreement, otherwise six years from record date (s 11(4)-(5)).

3. Build a data model reflecting exact fields

   • Implement a contract management database schema that includes the instrument’s specified fields:
     • Document identifier (permitted to be title or program number), title, agreement type (gas supply agreement; variation of kind in s 8(2) of Code; gas master supply agreement; transaction notice) (s 6(1)(a)-(b)).
     • Buyer name, ABN/ACN fields (s 6(1)(d)), and whether the buyer is a gas retailer, industrial user, or generator (note in s 4 gives examples).
     • Exemption flag and exemption identifier (s 6(1)(e); repeated across ss 8(1)(d), 10(2)(h), 11(2)(c)).
     • Delivery points, delivery region (closed list) (s 6(1)(g)-(h)).
     • Term commencement, supply start and end dates (s 6(1)(i)-(k)).
     • Annual contract quantities in petajoules for each year or quantity to be supplied if no ACQ is specified (s 6(1)(l)).
     • Basin expected to be predominant source and Australian market supply condition flag and affected volume (s 6(1)(m)-(n)).
     • Pricing breakdowns: CPI base year/quarter/frequency (where CPI escalator used), fixed price component per year and currency terms, pricing formula, commodity linked slope per year and measure period, measurement period, take or pay multiplier per year (including variations or averages), load factors (ss 7(1)(a)-(e), 9(1)(a)-(e), 10(3)(i)-(k), 10(3)(f)-(g)).
     • Banking rights indicator (s 10(3)(h), 11(3)(h)).
     • Offer metadata: offer type, issue date, response date, status (accepted/rejected/under consideration/superseded), whether offer resulted from gas EOI and EOI document identifier (s 10(2)(a)-(g)).
     • EOI metadata: issuer, document identifier, issue date, URL of publication and publication date, open and close dates, number of recipients and number who responded, names and ABN/ACNs of recipients/respondents, public holiday flag, whether EOI proceeded to offers and identifiers (s 11(2)-(3)).

4. Establish governance and workflows

   • Assign roles for:
     • Legal/contract team: to determine whether agreements/offers/EOIs fall within the instrument’s scope and to identify applicable exemptions under the Code (ss 6(1)(e), 8(1)(d), 10(2)(h), 11(2)(c)).
     • Commercial/operations: to capture delivery points, ACQ calculations in petajoules, load factors and take or pay multipliers (ss 6(1)(l), 7(1)(d), 10(3)(e), 10(3)(f)-(g)).
     • Finance and treasury: to capture fixed price components, currency terms, pricing formulae, commodity link slopes and measurement periods (ss 7(1)(b), 7(1)(c), 9(1)(b)-(c)).
     • IT/records team: to ensure the database captures document identifiers, retains records for six years and can produce audit reports (ss 6(2), 7(2), 8(2), 9(2), 10(4)-(5), 11(4)-(5)).
     • Compliance and reporting lead: to prepare the twice‑yearly publication and reporting packages and to liaise with ACCC (ss 12-14).

5. Operationalise the publication requirement

   • Prepare a template for the statement required under s 34(1) of the Code and prescribed in s 13. The template must set out the volume of uncontracted regulated gas that is likely to be available to the supplier in each quarter of a 24‑month period starting on the day specified by s 12.
   • Schedule production for the two fixed days: 1 April and 1 October each year (s 12). Decide whether the same statement is updated simultaneously for both dates or whether the supplier treats each date as a new 24‑month window start.

6. Operationalise reporting timing

   • For reporting obligations under paragraph 35(2)(b) of the Code, use the instrument’s specified days,1 April and 1 October,as the reporting dates (s 14). Align internal reporting deadlines and external sign‑offs to these days.

7. Document retention and archival processes

   • Ensure that records are retained for six years per the instrument, and that retention periods are calculated correctly depending on whether an offer proceeded to an agreement (s 10(4)-(5)) or whether an EOI proceeded to agreement (s 11(4)-(5)). Set retention metadata in document management systems that link retention start to the correct trigger (agreement date vs record creation date).

8. Audit trail and evidence

   • Maintain an auditable trail that links EOIs → offers → agreements. Record and preserve document identifiers consistently so that a regulator can follow the chain from EOI to agreement if necessary (notes on document identifiers at ss 6(1)(a), 8(1)(a), 10(2)(e), 11(2)(a), (l)).
   • Where commercial negotiations change pricing or take or pay multipliers, preserve versions and variation documents and record whether the variation determines the price payable where relevant (s 6(1)(f)).

9. Reconcile units and formulas

   • Convert quantities to petajoules and ensure CPI escalators and commodity linked slopes are captured in the format required by the instrument (s 4; ss 7(1)(a)-(b), 9(1)(a)-(b), 10(3)(i)-(k)). For example, if the commercial contract uses different indexation or a commodity price series, map that series to the instrument’s "relevant commodity" and "measurement period" fields (ss 7(1)(c), 9(1)(c), 10(3)(k)).

10. Address confidentiality and internal controls

    • Although the instrument does not provide confidentiality carve‑outs, maintain internal processes to identify commercially sensitive fields and policies for how to handle disclosure requests from third parties or regulators. Track whether exemptions under the Code are claimed and record which exemption applies (e.g. ss 6(1)(e), 8(1)(d), 10(2)(h), 11(2)(c)).

11. Training and documentation

    • Train commercial, legal, finance and records staff on the specific fields and definitions in the instrument, and on the importance of the 12‑month threshold, the six‑year retention rule, and the two fixed publication/reporting dates (ss 7, 9, 10, 11, 12-14).
    • Keep a compliance manual that references the exact instrument provisions for each obligation, and implement periodic internal audits.

12. Prepare for ACCC interaction

    • Given the ACCC made the instrument (header and s 3), be prepared to produce records promptly if the ACCC requests them under the Code’s enforcement powers. Ensure records are searchable by document identifier, buyer ABN/ACN, and by the pricing and contract fields specified in the instrument.

Checklist (quick reference)

• Confirm covered supplier status in Code.
• Set up data capture for all mandatory fields in ss 6-11.
• Implement unit conversions to petajoules where required (s 6(1)(l)).
• Create CPI and commodity index templates to capture base year/quarter/frequency and measurement period (ss 7(1)(a), 7(1)(c)).
• Flag contracts/offers of 12 months or more for additional data capture (ss 7, 9, 10).
• Record exemptions and Australian market supply condition details where applicable (ss 6(1)(e), 6(1)(n), 8(1)(d), 8(1)(m), 10(2)(h), 11(2)(c)).
• Publish the 24‑month quarterly uncontracted volume statement on 1 April and 1 October (ss 12-13).
• Prepare reporting deliverables for 1 April and 1 October (s 14).
• Retain records six years from the correct trigger date (ss 6(2), 7(2), 8(2), 9(2), 10(4)-(5), 11(4)-(5)).
• Maintain consistent document identifiers and an auditable chain from EOIs to offers to agreements (notes and ss 10(2)(e), 11(2)(a), 11(2)(l)).

Following this practical roadmap will align supplier processes with the determinative obligations in the instrument. The primary compliance risks arise from misclassifying coverage, failing to capture pricing and quantity fields for 12‑month+ contracts, and from timing errors against the fixed publication/reporting dates.