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.
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24/10/2016
Gas Supply Hub industry guide
An overview of the frameworks, processes and activities of the GSH.
2.22 MB -
23/07/2016
End-to-end example
An end-to-end example demonstrating the participants, processes and transactions relating to a trade in the GSH.
878.71 KB -
24/06/2019
GSH Trading Timetable
Gas day trading hours and windows for each product on the exchange.
200.79 KB
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.
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23/09/2019
Gas Supply Hub exchange agreement
1.74 MB -
28/06/2016
Membership agreement
The contract that signifies accession to the exchange agreement. This must be signed to participate in the GSH.
32.75 KB -
30/11/2018
Gas Supply Hub benchmark price methodology
The methodology used to calculate the end-of-day (EOD) benchmark price.
609.36 KB -
13/03/2019
Gas Supply Hub exchange fees
The fees paid by each category of GSH participant.
546.36 KB -
07/03/2018
Gas Supply Hub interface protocol
The protocol governing the establishment and maintenance of an interface between member systems and the GSH trading system.
278.6 KB
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.
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28/06/2016
Capacity trade agreement standard terms (shipper to shipper)
Standard terms and conditions that may be adopted by shippers for capacity trades.
626.82 KB -
28/06/2016
Form of contract document for capacity trade agreement (schedule 2)
A document that records the terms of a capacity trade between shippers. This must be completed for each trade.
54.95 KB -
28/06/2016
Form of master capacity trading schedule (schedule 1)
A document that records master terms for multiple trades between shippers.
52.59 KB
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.
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23/07/2016
Trader user guide
Detailed how-tos and troubleshooting for traders using the GSH exchange.
2.03 MB -
15/01/2019
Guide to Gas Supply Hub Publishing Direct
An overview of the GSH Publishing Direct web application, which provides participants with access to GSH reports and statements.
2.41 MB -
30/09/2019
Guide to Gas Supply Hub reports
Detailed explanation of the specifications of each of the reports produced for the Gas Supply Hub exchange.
1.04 MB -
23/07/2016
Guide to Gas Supply Hub CSV File Transactions
An explanation of the requirements, file format specifications and business validations for CSV-based transactions in the GSH.
451.36 KB -
20/03/2017
Guide to Gas Supply Hub Delivery Netting Preferences
An explanation of how to use the Delivery Netting Preferences web application.
2.09 MB
Market events
The following reports document any events in the GSH market, as well as AEMO’s response to the event.