Today the Reliability Panel commences consultation on updated guidelines for the reliability and emergency reserve trader (RERT).
The RERT is the national electricity market’s emergency reserve – it has always been part of the market’s reliability safety net – and is used by the system operator, AEMO, as a last-resort mechanism to keep the lights on.
Earlier this month, the Commission published new rules to enhance the RERT framework so that AEMO has the flexibility to effectively protect the reliability of the national electricity market while minimising costs to consumers.
As part of the new RERT rules, the Panel is required to update its RERT guidelines, which provide additional guidance to AEMO on how to operate the emergency reserve framework. For example, the RERT guidelines:
- set out the type of information AEMO must take into account when using emergency reserves,
- the actions that AEMO may take to be satisfied that emergency reserves are out of market.
The draft report published today sets out the proposed changes to the RERT Guidelines. Consistent with the terms of reference published by the Commission, these proposed changes are limited to updates required to reflect the final rule.
A marked-up version of the draft Guidelines was published as an appendix to the draft report to facilitate stakeholder feedback.
Submissions on the draft Guidelines are due by 20 June 2019.
Media: Prudence Anderson, Communication Director, 0404 821 935 or DL (02) 8296 7817.