AER accuses Santos of breaking gas rules
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The news: The Australian Energy Regulator has kicked off Federal Court action against oil and gas major Santos for alleged breaches of its record keeping obligations.
The numbers: The AER says Santos failed on on 4,701 occasions to keep required records of its material renominations for the Day Ahead Auction, which aims to provide access to contracted but unused gas capacity in pipelines. The failures occurred between March 2019 and June 2021 across six different auction facilities, AER alleges.
The context: The action follows similar measures taken against EnergyAustralia, Incitec Pivot and Jemena subsidiaries over gas rule breaches. EnergyAustralia paid fines of totalling $630,200, Incitec paid $223,400 for its breaches and the action against Jemena's subsidiaries is ongoing.
What they said: “The Day Ahead Auction is vital to moving gas between markets on the east coast and relies on market participants providing accurate information to AEMO to operate efficiently," AER board member Justin Oliver said in a statement.
The source: Australian Energy Regulator Media Release
