Settlement Residue Committee

The Committee

The Settlement Residue Committee is established by NEMMCO in accordance with clause 3.18.5 of the National Electricity Rules. The functions of the Committee are to:

approve any suspension, or removal of a suspension, imposed by NEMMCO on the conducting of settlement residue auctions;

approve proposed amendments to the settlement residue auction rules developed by NEMMCO;

monitor, review and report on the settlement residue auctions conducted by NEMMCO under clause 3.18 of the Rules; and

approve the costs and expenses incurred by NEMMCO in conducting settlement residue auctions under clause 3.18 of the Rules and in entering into and administering settlement residue auction participation agreements and settlement residue distribution agreements under clause 3.18 of the Rules.

Membership of the Committee

Under clause 3.18.5(c) of the Rules, the Committee is to consist of:

an employee of NEMMCO;

a person representing Generators;

a person representing Market Customers;

a person representing Transmission Network Service Providers;

a person representing Traders;

a person appointed jointly by the relevant Ministers of the participating jurisdictions; and

a person to represent end use customers of electricity.

The Committee (as at 1 August 2007) consists of the following members:

Brian Spalding, Chief Operating Officer, NEMMCO

Roger Whitby, GM Trading, Snowy Hydro Ltd

Alex Cruickshank, Manager NEM Development, AGL Energy Sales & Marketing

Phillip Gall, Manager Regulatory Affairs, TransGrid

Connell Burke, Manager Trading Westpac Energy, Westpac Banking Corporation

Vince Duffy, Acting Director Electricity, SA Department of Treasury & Finance

Ron Hardwick, Senior Technical Consultant, Visy Pulp and Paper.