Initial policy development underway.
That prior to the grant of any further production approvals, the Government considers developing and implementing a tiered regulatory model such as the one in SA, whereby gas companies with a demonstrated record of good governance and compliance require a lower level of monitoring, with a corresponding reduction in regulatory fees.
To be completed by end December 2021.
Action item update
For at least the next five years, all operators will require a high level of monitoring by the regulator.
Only when the industry is well established will the government consider the use of a tiered regulatory model of the kind used in South Australia.