Overview
Energy Ministers considered whether to give the Australian Energy Market Operator (AEMO) new last resort powers to help prevent the realisation of structural shortfalls if the market does not respond in time.
Ministers also considered extending the scope of the Gas Statement of Opportunities (GSOO) to help reduce any information barriers that may be impeding market-led investment.
We sought stakeholder feedback on:
whether there is a need to extend AEMO’s powers and the GSOO
what these new powers and an expanded GSOO could look like, and what their costs, benefits and risks might be
what changes would be needed to laws, regulations and rules to put these reforms in place.
To facilitate consultation on possible changes to relevant regulatory frameworks, an exposure draft Bill was provided, along with draft Regulations and draft Rules, and a guide to the draft regulatory package. The consultation documents can be found below.
Through the consultation process we received 43 written submissions from stakeholders.
To view the public submissions, please visit the Published submissions page. Please note, responses have been published only where the author has provided permission for their response to be released publicly.
Outcome
The feedback provided by stakeholders to this consultation informed Officials’ advice to Energy Ministers at the meeting of the Energy and Climate Change Ministerial Council on 8 May 2026.
At the meeting, Energy Ministers agreed to not progress further the proposal for introducing the last resort powers for AEMO. Consultation revealed strong industry support for prioritising implementation of the prospective gas reservation policy and allowing time for it to take effect. Instead, the Commonwealth will consult on how policy settings under an east coast reservation scheme can best support infrastructure investment.
Energy Ministers did agree to the proposed improvements to the GSOO alongside amendments to the National Gas Law to future proof AEMO’s existing Reliability and Supply Adequacy functions. Both these components formed part of the consultation package.
Read the full communique from the ECMC meeting held on 8 May 2026.
