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Gas Supply Hub Proposed Exchange Agreement Amendment - Wallumbilla Product

02/03/2017
Market Gas Supply Hub
StageFinal Report
ConvenorAEMO Gas
Initiated21/12/2016
Accepting submissions?No
Submissions close03/02/2017

Notice of Consultation

AEMO is consulting on proposed amendments to the Gas Supply Hub Exchange Agreement (EA) under clause 3.3 of the EA.

These amendments are open for public consultation from Wednesday 21st December, with submissions closing by 5.00pm (EST) on Friday 3rd February 2016.

Proposed changes to GSH Exchange Agreement

Amendment of the GSH Exchange Agreement for the inclusion of:

  • New Wallumbilla (WAL) product
    • Trading location groups together delivery points at, and connecting to, the Wallumbilla gas hub.
  • New Delivery Matching concept:
    • Process of matching Trading Participants for the purpose of gas delivery.
    • Matching process prioritises buyers and sellers located at the same delivery point.
    • Where elected by a Trading Participant, the Delivery Matching process may prioritise matching within a defined set of delivery points (priority grouping).
    • Buy and sell positions that cannot be matched at a preferred delivery point (or priority group) will be matched at the default delivery point (Wallumbilla High Pressure Trade Point).
  • The ability for Trading Participants to update the delivery point associated with a transaction prior to gas delivery.
  • New South East Queensland (SEQ) product.
    • Transactions for delivery at the RBP In Pipe Trade Point.
  • New WAL – SEQ Spread Product.
  • Changes to the Balance of Day product - it will have a new name, and references to the product being traded in GJ / hr will be removed and it will now trade on a GJ/day basis like other products.
  • Moving delivery netting run time from D-2 5pm to D-1 1pm.
  • Adjusting delivery netting fall back timing.
  • New Low Pressure Settlement Adjustment concept.  

Amendment of the GSH Settlements Methodology:

  • Low Pressure Settlement Adjustment - Physical Gas transaction settlement amounts will be adjusted if delivery occurs at a low pressure location.

Amendment of the Guide to GSH Reports:

  • A new report ‘Delivery Netting Preferences Report’.

Amendment of Gas Supply Hub End of Day Benchmark Methodology:

  • RBP, SWQP and QGP trading locations replaced with the WAL trading location.
  • The Wallumbilla benchmark price will be determined using transactions, bids and offers in the WAL product.

AEMO has published an Impact and Implementation Report (IIR) below, which details the proposed changes to the Exchange Agreement and associated documents.

As stated in the notice of consultation, written comments on any of the proposed amendments are invited by 5pm (EST) on Friday 3rd February. Consultation responses can be submitted directly to the AEMO at Hub_Reference@aemo.com.au.

Notice of Determination

AEMO informs all Gas Supply Hub exchange members and other interested stakeholders that it has decided to make the proposed amendments to the Exchange Agreement. Version 9.0 of the Gas Supply Hub Exchange Agreement will be effective from 28 March 2017.

 

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