This is the Business Council of Australia's submission on the Draft Competition and Consumer Amendment (Gas Market) Bill 2022. 

In summary, The BCA: 

• supports the Energy Bill Relief Fund component of the plan as a justifiable response to the global energy crisis to offer  targeted and temporary relief to vulnerable households and affected small businesses.
• does not support temporary energy price caps because the deterrence risk to new investment - and higher long term prices as a result - outweighs any short term benefits to energy consumers.
• does not support an ongoing mandatory code of conduct and the price setting role of the regulator in the east coast gas market, because  the deterrence risk to new investment - and higher long term prices as a result - outweighs any short term benefits to energy consumers.
• advocates strongly for broader energy market reforms to encourage substantially more investment in energy market capacity and infrastructure - to lower energy prices sustainably over time and build Australia's resistance to future global energy shocks.

Read the full submission here.