The AEMC today published its final determination and final rule related to a rule request received from the Australian Energy Market Operator (AEMO) addressing the classification and allocation of market benefit instruments in the Victorian Declared Wholesale Gas Market (Victorian DWGM).
The new rule clarifies the type of market benefit instruments created when an augmentation of the gas transmission network is completed. It also clarifies who is responsible for undertaking the allocation process for market benefit instruments.
The final rule provides that AEMO must offset the costs of operating the Victorian DWGM with any proceeds received from its allocation process and that it must provide a minimum of twenty business days’ notice prior to undertaking the allocation process.
The AEMC considers that the final rule will promote regulatory certainty, increase timely provision of information and promote an efficient allocation process.
Media contact: Prudence Anderson 0404 821 935 or (02) 8296 7817