Gas Industry Co implemented the Retail Gas Contracts Oversight Scheme (Scheme) in 2010 and over the next three years published baseline, transitional, and full assessment of gas retailers’ contractual arrangements. In line with the original recommendation to the Minister of Energy and Resources, and in response to the improving trend of alignment over the three years of assessments, Gas Industry Co undertook a review of the Scheme to assess its success.
Result of scheme review
On 23 April 2014, following a review of the Retail Gas Contracts Oversight Scheme, Gas Industry Co wrote to the Minister advising on the continuation of the Scheme, with the following amendments:
- Retail gas contracts will no longer be reviewed on an annual basis, instead they will be reviewed on a 3 yearly basis (with a scope to review contracts for new entrant retailers, or amended contracts on an 'as required' basis).
- Gas Industry Co will make some amendments to the benchmarks which will improve the Scheme.
The Minister replied to Gas Industry CO's letter on 14 May 2014, noting the continuation of the Scheme and officials keeping him updated on the Scheme progress from time to time. A copy of the Ministers letter can be viewed below.
The next full assessment of the standard published consumer gas contracts will take place in 2015, with contracts being assessed against the amended benchmarks and newly introduced 'Reasonable Consumer Expectations' which are included in Related Documents below.