Yes, but MSR appear to not have considered how price...

Yes, but MSR appear to not have considered how price transparency really works in practice. Their piece seems to fly against the experiences of the more heavily regulated Canadian pipelines as led by TransAlta Corporation and Inter Pipelines in Saskatchewan and Alberta where Liberal (left-wing) Governments have been trying to over-regulate pipelines for years. The result has been a couple of effective monopolies who have an unparalleled moat, improved yields, improved costs structures and in spite of lower POO actually grew in their respective monopolies.

APA would be expected to do the same even if regulation Australian-style was idiosyncratic and eccentric. IFM, DUE and others would be getting out and APA as a pure player would be expected to gain. In a zero sum game world of down, mid and upstream gas supply. I cannot see how APA can loose and MSR did not put sufficient skin on the bones to educate me to the contrary IMHO but pls DYOR.

Perhaps MSR did with their private clients but at the moment, I cannot see the rationale or evidence for a negative case.