in addition the interim guidelines give the following exception (among many others) for the price cap:
• agreements resulting from a gas exchange transaction that is a declared wholesale gas market or short term trading market (section 14)
and most of Victoria is a declared wholesale gas market and there are short term trading markets in Adelaide, Sydney and Brisbane. The price cap isn’t about directly limiting spot prices but ensuring the longer term gas supply agreements aren’t above $12/GJ.
Ann: Vali field first gas, page-23
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