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Wholesale Gas Markets

Wholesale Gas Markets

Short Term Trading Market

The Short Term Trading Market (STTM) is a wholesale market system designed to facilitate short term gas trading using market driven short term (daily) prices. The STTM operates in the New South Wales and South Australia hubs, with the objective to expand to other state-based hubs.

The STTM operates in conjunction with the underlying gas supply, transportation and network contracts. The physical operation of pipeline or network assets is maintained by owners of the infrastructure.

The STTM commenced in September 2010 in Sydney and Adelaide and is expected to commence in Brisbane in December 2011. The existing retail gas markets in New South Wales and South Australia operate in conjunction with the STTM in each state, and the Victorian wholesale gas market continues to run in parallel with the emerging national gas market.

Victorian Wholesale Market

Most Australian gas markets are based on bilateral arrangements between producers, major users and retailers linked together through pipeline hubs connecting gas fields to gas consumers.

The exception is Victoria where a wholesale gas market was established in 1999 to enable competitive, dynamic trading based on injections into and withdrawals from the transmission system that links multiple producers, major users and retailers. The market was reviewed and, in 2007, intra-day trading intervals were introduced.

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