The AER has issued a final decision exempting Meridian SeamGas Joint Venture and WestSide Corporation Limited (WestSide) from their ring fencing obligations under ss. 139 and 140 of the National Gas Law (NGL).
The AER considers that relevant criterion for granting the exemptions under rr.31(3) and 31(4) of the National Gas Rules (NGR) have been satisfied. However, the AER has decided to not grant an exemption from the account keeping requirements under s. 141 of the NGL.
The granting of the exemption will not preclude the AER from reviewing the exemption if market conditions change substantially at any time in the future.
The final decision also repeals a previous ring fencing exemption granted to the Dawson Joint Venture by the ACCC in February 2007.