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Gas supplies sufficient to keep prices down, says ACCC boss

A new report shows there won’t be a shortage of gas in Australia next year, but warns prices are still too high.

The competition watchdog has found industrial gas users are facing the biggest costs, influenced by rising prices in the international market.

ACCC Chair Rod Sims tells Ross Greenwood some headway has been made but more needs to be done to boost gas supply in the domestic market.

“The gas market has improved considerably. It was out of control in 2017. Ridiculously high prices.

“Those prices have now halved. Still very high but we’re really in a much more sensible market than we had a year ago.”

He says prices need to fall below the international rate and in order for that to happen, there needs to be more gas produced.

“We need more gas found and produced in the states of New South Wales, Victoria, South Australia.”

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