The AEMC today made a draft rule in relation to the governance arrangements for and implementation of the reliability standard and settings, in response to a rule change request from the COAG Energy Council.
The draft rule will increase transparency and strengthen the governance arrangements of the reliability standard and settings, which are key to securing the reliable supply of electricity in the National Electricity Market.
It does this by incorporating the reliability standard into the National Electricity Rules and requiring the Reliability Panel to develop reliability standard and settings guidelines that set out the principles and assumptions it will make when undertaking its four-yearly reliability reviews.
The draft rule will also enable the reliability standard to be implemented in a more efficient, flexible manner by requiring the Australian Energy Market Operator to develop reliability standard implementation guidelines, which will provide appropriate flexibility and guide the implementation of the reliability standard.
The AEMC invites submissions on the draft rule determination and draft rule by 5 February 2015.