The AEMC today published its final decision on amendments to its last resort planning power (LRPP) guidelines.
The LRPP is an oversight mechanism conferred on the AEMC. Its purpose is to ensure timely and efficient inter-regional transmission investment when other mechanisms to provide for this investment appear to have failed. We are required to report annually on the exercise of the last resort planning power. To date, the AEMC has not used this power.
In 2014, the AEMC noted its intention to review the LRPP guidelines which govern our consideration of whether or not the planning power needs to be exercised. The last guidelines review was undertaken in 2010.
The AEMC is making two sets of change to the guidelines. First, it is incorporating a description of the three stage process the AEMC follows when deciding whether to exercise the last resort planning power into the guidelines to provide more transparency and certainty to stakeholders. Second, we are proposing to make some “housekeeping” amendments to the guidelines.
The amended guidelines will take effect on 24 September 2015. This means that the AEMC will act in accordance with the amended guidelines when deciding whether to exercise the last resort planning power in 2015.
Media: Communication Manager, Prudence Anderson 0404 821 935 or (02) 8296 7817