The Australian Energy Regulator has approved the 2017–18 tariff variation notice proposed by Jemena Gas Networks’ (JGN) gas distribution network in New South Wales.
This proposal will result in an average real price reduction of 7 per cent across JGN’s reference tariffs. This decrease in network tariffs will work to moderate other factors in the market which are placing upward pressure on retail prices, such as increases in the wholesale cost of gas.
The AER’s assessment included ensuring that JGN’s tariff variation notice complied with the terms of an enforceable undertaking between JGN and the AER, which was agreed on 31 May 2017.
Approved distribution network reference tariffs take effect from 1 July 2017.