The AEMC’s Reliability Panel has updated its guidelines on the reliability and emergency reserve trader to reflect the interim reliability measure recently approved by energy ministers.
On 19 August 2020 the Energy Security Board (ESB) published a set of changes to the National Electricity Rules (Rules) to establish an out of market capacity reserve (the Interim Reliability Reserve).
These rules were recommended and approved by energy ministers in August 2020, following consultation undertaken by the ESB at the request of the then COAG Energy Council in March 2020.
The rules required the Reliability Panel to update the Reliability and Emergency Reserve Trader (RERT) guidelines to reflect the new interim arrangements. These Panel guidelines provide direction and guidance to the system operator, AEMO, in its operation of the RERT.
The RERT is the electricity market’s emergency reserve.
The Reliability Panel has now published updated RERT guidelines.
These incorporate amendments that reflect and enable the functioning of the National Electricity Amendment (Interim Reliability Measure) Rule 2020. The Panel has also added more explanatory notes to make the guidelines easy-to-read.
The guidelines took effect on 21 August 2020, when the rule that established the Interim Reliability Reserve commenced.
Apart from consulting with AEMO, energy ministers did not require the Panel to comply with the usual public consultation requirements for the guidelines. This is because the changes to the guidelines were limited to implementing the rule and therefore relatively minimal.
Media: Kellie Bisset, Media and Content Manager M: 0438 490 041