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Source: New Zealand Parliament

This bill proposes to provide for enhanced information disclosure requirements for the gas market and to ensure that settings around enforcement and penalties are suitably robust.

The Gas (Information Disclosure and Penalties) Amendment Bill would do this by amending the Gas Act 1992, which sets out the co-regulatory model that the government has entered into with the natural gas industry.

This bill follows the prolonged natural gas supply outages at the Pohokura production station in 2018, combined with planned outages at other production stations and dry spring conditions, which led to record gas spot market prices and high electricity wholesale prices. These outages have highlighted a number of issues in relation to the transparency of information in the gas market, which can have a wide range of effects.

Tell the Economic Development, Science and Innovation Committee what you think

Make a submission on the bill by midnight on 16 July 2020.

For more details about the bill:

ENDS

For media enquiries contact:

Economic Development, Science and Innovation Committee staff

edsi@parliament.govt.nz

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