The Australian Energy Market Commission will hold a public forum in Brisbane on Monday 18 May to discuss its draft determination to introduce new rules governing how generators sell electricity into the wholesale market.
The public forum will provide all stakeholders the opportunity to discuss their views on the Bidding in Good Faith draft determination with the Commission before submissions close on Thursday 11 June 2015.
The draft changes to the National Electricity Rules released for public comment earlier this month would replace the current requirement that offers be made in good faith with a prohibition against making false or misleading offers, supported by a requirement for any variations to offers be made as soon as practicable .
A new obligation would also be created to require that generators provide the Australian Energy Regulator with reports explaining the reasons for last minute electricity market rebids, if they happen.
The changes are expected to lead to more efficient wholesale price outcomes in the short term, and create investment signals that better reflect underlying conditions of supply and demand, in the long term interests of consumers.
Interested stakeholders can register for the forum here. The agenda and venue details will be available shortly.
For information contact:
Registration: Su-Min Lim, Adviser, 02 82967800
Media: Communications Specialist, Tim O’Halloran 02 8296 7800