The AEMC today called for public submissions on its draft determination and rule to make the Reliability and Emergency Reserve Trader (RERT) safety-net a permanent feature of the National Electricity Market.
The more preferable draft rule released today proposes changes to the operation of the RERT, which would allow the RERT to complement the suite of permanent intervention tools available to manage reliability in the event that market responses are insufficient. It also supports the efficient operation and use of electricity services and addresses issues identified by the rule request’s proponent, the COAG Energy Council.
The key features of the draft Rule are as follows:
- The RERT’s sunset clause would be omitted with effect from 30 June 2016. This means that the RERT provisions in the National Electricity Rules (NER) would continue unless and until a rule change amends or omits the RERT provisions.
- The period allowed for the market operator, AEMO, to contract for reserves ahead of a projected shortfall in electricity supply has been shortened to allow greater opportunity for market response. This timeframe would reduce from nine months to 10 weeks
- The Reliability Panel would be required to amend the RERT guidelines, and AEMO would be required to amend the RERT procedures, to reflect the changes to the RERT’s provisions in the National Electricity Rules.
The AEMC invites submissions on its draft rule determination, including the draft more preferable Rule, by 19 May 2016.
Media contact: Prudence Anderson 0404 821 935 or (02) 8296 7817