NSW to deregulate gas prices

NSW Minister for Industry, Resources and Energy Anthony Roberts.

NSW Minister for Industry, Resources and Energy Anthony Roberts.

The New South Wales (NSW) Government is looking to promote further competition in the gas market by deregulating prices from 1 July 2017.

Targeting houses and small businesses, NSW Minister for Industry, Resources and Energy Anthony Roberts made the announcement at the Committee for Economic Development of Australia (CEDA) Energy Series event in Sydney last week.

Mr Roberts said more than 80 per cent of the State’s 1.3 million residential gas customers have already switched away from the regulated price.

“Our successful deregulation of retail electricity prices has boosted competition in the market, put downward pressure on prices and we now want to see those benefits further replicated across the retail gas market,” said Mr Roberts.

“Last year we signalled our intention to deregulate retail gas prices, subject to there being significant increase offers available to customers in regional NSW.

“The NSW Government has worked with industry and stakeholders to improve competition in the regional gas market.”

The NSW Government will consult with key consumer groups to develop an information campaign to support NSW gas retail customers.

For more information visit www.resourcesandenergy.nsw.gov.au

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