The Commission has determined to not make a rule proposed by the Australian Energy Market Operator to introduce portfolio rights trading in the Victorian declared wholesale gas market.
A number of matters have arisen since the draft rule determination primarily related to AEMO’s recent announcement of changes to the cost and timing of its proposed implementation of portfolio rights trading.
Given the changed circumstances, the Commission was unable to conclude with certainty that the potential benefits of making AEMO’s proposed rule would outweigh the potential costs of doing so.
For these reasons, the Commission is not satisfied that the proposed rule will, or is likely to, contribute to the achievement of the national gas objective. The Commission has therefore determined not to make the proposed rule.