Why are gas prices set to rise for New South Wales households?

In this essay, you should identify and explain the economic factors behind the increase in the price of natural gas being experienced by households in New South Wales.

In particular, in your essay you should address the following questions:

(1) Background questions to answer: Where does NSW get most of its natural gas supplies from up to now? What is happening to total domestic gas production in Australia?

(2) Describe the structural change that is taking place in the Australian gas market.

(3) Describe what is happening to (and expected to happen to) gas prices for households and businesses in NSW. Explain why this is happening.

(4) What are potential ways out of this problem? What type of policy could address this issue, and why?

Write as per the question like in nsw and please use diagrams to support answers every detail is written as to write the answer please follow nsw economic system and just you have to do is first two questions introduction do include references no. of words for these two 1000