Gas Supply Hub bid-offer spread amounts (WAL)

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Data
QuarterB.O.D NNt (Spread amount ($))Day-ahead (Spread amount ($))Day-ahead NNt (Spread amount ($))Daily (Spread amount ($))Weekly (Spread amount ($))Monthly (Spread amount ($))
2017 Q22.852.672.162.763.773.86
2017 Q32.432.531.662.403.483.17
2017 Q41.521.521.171.882.522.58
2018 Q11.611.701.191.932.092.35
2018 Q22.572.531.992.503.083.62
2018 Q31.631.911.402.572.744.01
2018 Q42.762.062.233.054.835.74
2019 Q11.992.221.202.723.384.85
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Information
Sector: 
Segment: 
Category: 
Gas Liquidity
AER reference: 
D11/2298801[V6]
Source: 
AER; AEMO
Overview: 

Wallumbilla in Queensland is a major gas supply hub. As a pipeline interconnection point for the Surat-Bowen Basin, it links gas markets in Queensland, South Australia, New South Wales and Victoria. It services industrial gas customers, LNG export facilities and gas powered generators, making it a natural point of trade and an ideal location for a gas trading exchange.

To supplement the voluntary gas supply hub located at Wallumbilla, the Moomba hub was established from 1 June 2016 to facilitate trade on the Moomba to Adelaide Pipeline (MAP) and Moomba to Sydney Pipeline (MSP). A spread product also allows for trading between the Wallumbilla and Moomba markets on the SWQP (representing the price differential between the two hubs at the MSP and WAL trading locations).

The spread indicator shows the difference between the highest bids (buy) and lowest offers (sell) price of gas commodity/service products on the gas supply hub exchange. As bid/offer prices in the Gas Supply Hub vary across the trading window each day, the measurements here are calculated as daily time-weighted averages for each product/location combination displayed in each of the figures.

This figure shows the spread amount (the difference between the time-weighted offer and bid prices in dollars) on a quarterly basis for the Wallumbilla (WAL) trading location.

A lower spread amount (i.e. the closer the bid and offer prices) indicates a higher level of liquidity.

NOTE: The spread difference between the lowest offer and highest bid prices are time weighted across a limited trading window within each day, open from 9 am to 5 pm for Wallumbilla. Thus, the spread amounts should not be viewed as the average level of differences in dollar terms between the bid and offer prices across the trading window, as 8 hours only constitutes one third of a 24 hour day.

For example, a $10/GJ offer and $5/GJ bid ($5/GJ spread amount, non-weighted) available as the lowest spread across the entire 8 hour trading window would yield a time weighted amount equivalent to $5*8/24 = $1.67