Market Review: Completed

Overview

On 15 December 2016 the Reliability Panel (Panel) published the Final System Restart Standard (Standard) and a Final Determination explaining the process and outcomes of this review.
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On 15 December 2016 the Reliability Panel (Panel) published the Final System Restart Standard (Standard) and a Final Determination explaining the process and outcomes of this review.&nbsp;</div>
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The Standard sets out several key parameters for system restoration following a major supply disruption, including the speed of restoration, how much supply is to be restored and the aggregate level of reliability of System Restart Ancillary Services (SRAS).</div>
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The Final Standard defines more stringent requirements for the procurement of SRAS which are tailored to the specific requirements of each electrical sub-network.</div>
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The Final Standard commences on 1 July 2018, to allow AEMO to review the SRAS guidelines and undertake procurement of SRAS.</div>
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<b><span style="font-size: 9.5pt; font-family: Arial, sans-serif;">Economic Assessment of System Restart Ancillary Services</span></b></div>
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The Panel commissioned Deloitte Access Economics to undertake an economic assessment of SRAS for each of the current electrical sub-networks in the National Electricity Market. In response to stakeholder feedback on the Draft Determination the Panel commissioned Deloitte Access Economics to undertake additional analysis to test the sensitivity of the economic assessment results. The economic assessment and supplementary sensitivity analysis reports can be found below.</p>
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<strong>International Review</strong></p>
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The Panel commissioned DGA Consulting to undertake a comparison of International Major Blackouts and Restoration. This report can be found below.</p>
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<strong>Public Forum</strong></p>
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The Panel held two public forums to inform the review of the System Restart Standard.</div>
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The first public forum occurred on 27 April 2016 to discuss stakeholders&rsquo; views relating to the Panels Issues Paper.</div>
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The second public forum was held on 21 September 2016 to present the Draft Determination and discuss stakeholders&rsquo; views relating to the Draft Standard.&nbsp;</div>
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The presentations from these forums can be found below.</div>
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<strong>Background</strong></p>
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The Australian Energy Market Commission (AEMC) made a rule on 15 April 2015 that amended the requirements for the Panel in determining the Standard.</div>
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Consequently, the AEMC provided the Panel with Terms of Reference on 30 June 2015 to review the Standard. The Panel has previously reviewed the Standard in 2012, but at the time only minor changes were made.&nbsp;</div>
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<strong>Timetable</strong></div>
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The following table presents key dates for the&nbsp; review:</p>
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<strong>Milestone</strong></td>
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<strong>Date</strong></td>
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<span style="font-family:arial,helvetica,sans-serif;">Issues Paper</span></td>
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19 November 2015</div>
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Public Forums</div>
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<span style="font-size:12px;">27 April 2016</span></div>
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Draft Report and Draft Standard</td>
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25 August 2016</td>
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Public Forum</td>
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21 September 2016</td>
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Close of Submissions on Draft Report</td>
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27 October 2016</td>
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Final Report and Standard</td>
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15 December 2016</td>
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The revised timetable complies with the Terms of Reference for the review, which require the review to be completed by December 2016.</p>
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