On 11 September 2014, the AEMC extended the period of time for the publication of the final rule determination on the Portfolio Rights Trading (PRT) rule change request.
The Commission considers that the extension is necessary due to there being a material change in circumstances such that it is necessary that the period of time be extended. Specifically, AEMO has informed the Commission that the originally planned April 2015 IT release to implement PRT will no longer occur. However, it is currently unable to provide a certain timeframe for implementation.
AEMO has also indicated that there may be some changes to the costs associated with implementing the rule change request.
Both of these matters are relevant to the Commission’s assessment of the rule change request and need to be addressed in the final rule determination.
The AEMC has therefore extended the period of time for publication of the final rule determination to 30 October 2014. This will allow AEMO sufficient time to determine, and to consult with participants on, the re-estimated costs and implementation timeframes, and to advise the AEMC.