NSW gas prices to be deregulated by July 2017
It was announced this week by the NSW Minister for Industry, Resources and Energy, Anthony Roberts, that the NSW Government would look to deregulate retail gas prices from 1 July 2017, on the condition that certain benchmarks are met by the market.
Mr Roberts made the announcement during a speech to the Committee for Economic Development of Australia (CEDA) on enabling the sustainable development of NSW energy reserves and said it follows the success of the deregulation of retail electricity prices. “The deregulation of the retail electricity market has increased competition, delivered lower prices and improved customer services. More than 400,000 NSW households and businesses have taken advantage of these reforms over the past 12 months to switch to a better deal,” Mr Roberts said.
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