The Independent Pricing and Regulatory Tribunal of NSW (IPART) is responsible for regulating retail gas prices the Standard Retailers charge the 20% of customers who remain on standard contracts.
Across NSW, average regulated retail gas prices increased by 0.3% (including 1.3% inflation) on 1 July 2016.
Average change in regulated retail gas prices in 2016-17 (including inflation)
Change in Retail
Changes in Network
Sydney, Wollongong, Newcastle,
Dubbo, Orange, Parkets and Riverina
|Wagga Waga and surrounds||0.0%||1.3%||0.6%|
|Sales volume - weighted NSW average||0.3%|
Based on our analysis and expert advice we received for this review, we anticipate little change in the underlying costs that make up regulated gas prices in 2016-17.
Over the past few years a key factor putting upward pressure on regulated retail gas prices was rising wholesale gas costs, that is, the costs retailers incur to purchase gas from upstream producers. The commencement of liquid natural gas (LNG) exports from Queensland meant domestic gas prices were rising towards international prices. Our view is that the upward pressure on retail prices from rising wholesale gas costs has eased for the time being.