Market operations

Market operations refers to the functions, activities and processes that support the effective operation of the Gas Supply Hub (GSH). This section of the site therefore includes key guides, agreements and forms relating to the market, as well as information on settlements, payments and clearing.

About the market

The GSH is a voluntary market that supports a faster response, and greater liquidity and flexibility, in trading gas. It provides a centralised trading, settlement and clearing facility through an online portal, and enables generators, users, producers and retailers to manage their daily and future gas requirements.

AEMO offers spot and forward-dated products for participants to trade at the hub. The spot transactions include a core ‘day-ahead’ and an ‘on-the-day’ product. The on-the-day product enables parties to adjust their portfolio closer to real-time and to manage imbalances within the gas day. Weekly and monthly products are also available to be traded. 

Pipeline Capacity Trading (PCT) is also offered as part of GSH, allowing pipelines to be used more efficiently and helping to create more opportunities to trade gas.

The following guides provide an overview of the GSH, including the daily trading timetable.

Market member information

The following documents outline key agreements, rules and terms and conditions that bind – or can be used by – members of the GSH.

Exchange agreement and market requirements

The GSH exchange agreement outlines the terms and conditions that govern participation in the GSH. It was developed in close consultation with industry and government stakeholders.

Each participant must accede to the membership agreement and agree to be bound by the rules and associated terms and conditions.

Capacity trade agreements

AEMO has published standard terms and conditions that shippers may choose to adopt for capacity trades between them (bare transfers). The standard terms and conditions have been developed in close consultation with industry.

However, while the use of the standard terms is optional, trading parties must use the Form of Contract Document (schedule 2) to record the terms of each capacity trade and any agreed variations or additions to the standard terms.

Shippers who expect to trade with each other more than once may also wish to record any terms that will apply to all trades between those parties in a Master Capacity Trading Schedule (schedule 1).

These standard terms and conditions are not limited to trading on the GSH and may be used for other (non-GSH) pipelines.

Alternate gas delivery points

In some instances, gas may need to be delivered at a different delivery point to that specified in the delivery schedule or transaction on the GSH exchange. The following document helps to facilitate this.

Market portal information

The following guides and documents provide information about the GSH portal.

Market events

The following reports document any events in the GSH market, as well as AEMO’s response to the event.

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