As part of a recent rule change by the AEMC, the Australian Energy Regulator (AER) is required to publish a financial reporting guideline for light regulation gas pipelines by October 2019.
The purpose of the light regulation financial reporting guideline is to improve transparency in order to facilitate mutually beneficial negotiations between shippers and pipeline service providers. The guideline is similar to the non-scheme financial reporting guideline published in 2017. The AER is also required to monitor and enforce compliance of pipeline operators with the information disclosure requirements set out in the guideline.
The AER released its draft light regulation financial reporting guideline for consultant in August 2019 and received a total of five submissions.
Based on the submissions and feedback from stakeholders throughout the engagement process, the AER and its consultant have produced an explanatory statement to accompany the final guideline.