Regulator says prices would only be reduced materially beyond 2019 if gas supply increased significantly

High domestic gas prices are here to stay in Australia, with industrial customers still experiencing prices two to three times higher than historical levels, the competition regulator has warned.

Despite a noticeable improvement in the gas supply outlook for the east coast gas market in 2019, the Australian Competition and Consumer Commission said prices would only be reduced materially beyond 2019 if the gas supply was increased significantly. This includes allowing unconventional gas fields to be produced.

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