The big winners and losers in the $3.4 billion gas auction

In the lead-up to the first gas auction of the NSW gas market, the big winners are the major producers.

The big losers are small retailers, who can’t get the discounts they want, and some of the smaller producers who have been left with a $1.8 billion hole to fill.

In Sydney’s Central Coast, where the state’s first auction took place in March, a small number of independent retailers have been hit hard by the low gas prices.

“It’s the most expensive thing we’ve ever had to go through,” said Paul Rizk, a former head of gas retail at Westpac.

There’s been a lot of focus on the big producers, but a lot more of the small and independent retailers are going to have to get hit.

“They’re going to get less money from the big players,” Mr Rizb said.

Gas retailers such as Mr Razzaq have been hoping to sell their shares in the gas auction to a big, profitable energy producer, but the big gas producers have shown no interest in selling their shares, he said.

“The gas companies are not interested in a sale.

They’re not interested at all,” Mr Razzaq said.

The NSW government’s strategy of relying on a private sector solution for the energy market is a major mistake, according to Mr Rizaq.

“It’s a shame, because this has been a government that’s focused on the small producers,” he said, adding that the NSW government has to “get out of the way” of the big energy producers.

“The small producers are the ones that are going through the hardest times right now, and they’ve been doing it for decades,” Mr Aziz said.

Topics:energy-and-utilities,energy-environmental-issues,gas-and/or-hydro-energy,nsw,newcastle-2300,australiaFirst posted March 18, 2018 12:07:35Contact Greg BickfordMore stories from New South Wales