The Council said that the STTM will aim to introduce improved transparency, efficiency and competition across the sector by providing clear price signals, incentives for efficient management and resources and enhanced market liquidity.
The enabling legislation for the STTM is expected to be introduced to the South Australian Parliament in September 2009, in preparation for a June 2010 market start.
An extensive market trial program will be undertaken for three months prior to the implementation.
The newly established Australian Energy Market Operator (AEMO) has now assumed responsibility for the implementation of the STTM, and the Gas Market Leaders Group will continue as a key reference and advisory panel to the AEMO.