On 10 July 2014, the AEMC commenced consultation on a rule change request from the Australian Energy Market Operator (AEMO) on the removal of force majeure provisions for the wholesale gas market in Victoria.
AEMO considers that the force majeure provisions – participant force majeure (PFM) and system force majeure (SFM) – are ineffective, redundant and should be removed. Other changes are proposed to clarify AEMO’s role in the administered pricing arrangements.
A consultation paper has been prepared to facilitate public consultation and assist stakeholders in providing submissions on the rule change request. The closing date for submissions is 7 August 2014.