Under the Gas Supply Act 1996 (the Act) the Independent Pricing and Regulatory Tribunal of NSW (IPART) regulates retail gas prices for small retail customers. While the Act gives IPART the power to issue gas pricing orders that establish prices or pricing mechanisms, to date IPART decided to use voluntary pricing agreements with each of the standard suppliers (incumbent gas retailers). The current agreements expire on 30 June 2013. The Minister for Resources and Energy has written to IPART requesting that it continue to regulate default tariffs and charges for small retail gas customers via new agreements or a gas pricing order that will apply from 1 July 2013 - 30 June 2016.
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