News Topic ID

Draft report published on the reliability standard and reliability settings review

13 March 2014

On 13 March 2014, the Reliability Panel published its draft report for the reliability standard and reliability settings review 2014. The draft report contains the Reliability Panel’s draft decision in relation to the reliability standard, and draft recommendations in relation to the market price cap, cumulative price threshold and market floor price, to apply from 1 July 2016. Submissions on the draft report are due by 10 April 2014.

Design and testing of optional firm access commences

06 March 2014

The AEMC today published terms of reference from the Standing Council of Energy and Resources for a review to test a new model for cost efficient investment in future generation and transmission of electricity.

The Optional Firm Access Review will develop and assess the optional firm access package which was recommended by our Transmission Frameworks Review (April 2013).

Under the optional firm access proposal generators would drive and pay for much of the transmission investment required by the market in return for more certainty of access to networks. At the same time they would be encouraged to factor in transmission costs when deciding where to build new generation. Better aligning transmission and generation investment has the potential to minimise prices for customers in the longer term.

The AEMC and AEMO are working cooperatively on this review. Both organisations will contribute to an assessment of the impacts of implementing the model on everyone in the market. The project will also explore options for an efficient implementation process. The proposed model is technically complex and would significantly change the market. Accordingly, this review will emphasise opportunities for extensive engagement with stakeholders and a project plan highlighting the timetable for public consultation will be released shortly.

For information contact:

AEMC Chief Executive, Paul Smith, (02) 8296 7800

AEMC Senior Director, Anne Pearson (02) 8296 7800

Supplementary paper (regulatory framework) published on the Framework for Open Access and Communications Standards review

24 February 2014

The AEMC has published a supplementary paper for the Framework for Open Access and Communication Standards review. The paper outlines draft findings on whether access to smart meter functionality, and charges for access, should be subject to regulation. Consultation on the supplementary paper closes on Friday, 7 March 2014.

Reminder to register for public forum on the Framework for Open Access and Communication Standards review

20 February 2014

The AEMC will hold a public forum in Sydney on 27 February 2014 on the Framework for Open Access and Communication Standards review. Please email your details to registration@aemc.gov.au by 5pm on Friday, 21 February if you would like to attend. The agenda is now available to view here.

Closing date extended for submissions on draft report for Annual Market Performance Review 2013, and invitation to register for public meeting

29 January 2014

The Reliability Panel’s (Panel) draft report on the review of the annual market performance in the 2012-13 financial year was published on 20 December 2013. Close of consultation on this draft report has now been extended from 14 February to the close of business on 26 February 2014. The Panel will also hold a public meeting on 26 March 2014 in Sydney. If you wish to attend, please click here to register by no later than 12 March 2014.

Closing date extended for submissions on draft report for Annual Market Performance Review 2013, and invitation to register for public meeting

28 January 2014

2014 retail competition review - terms of reference and approach paper published

17 January 2014

The AEMC has published the terms of reference and its approach paper for the 2014 retail competition review. The review will assess the status of competition in retail electricity and gas markets for small customers in all jurisdictions in the National Electricity Market (NEM).

This is the first review under a revised approach agreed by the Standing Council on Energy and Resources and the Council of Australian Governments, where the AEMC will assess competition in all NEM jurisdictions each year. These reviews support the commitment made by jurisdictions in 2004 under the Australian Energy Market Agreement to deregulate retail energy prices where effective competition can be demonstrated.

The AEMC has published an approach paper setting out how we will conduct the 2014 review. As part of this review, we are seeking stakeholder views on the level of competition in each jurisdiction. We are particularly interested in stakeholder responses to a series of questions set out in the approach paper published today. Submissions are requested by 28 February 2014.

The AEMC plans to meet with key stakeholders during the first quarter of 2014 to discuss the review and seek their input. This will include consumer groups, retailers, ombudsmen, pricing regulators and jurisdictional governments. In addition, we invite any stakeholders to contact the AEMC if interested in meeting to discuss any aspect of this review.

AEMC starts new annual retail competition review

17 January 2014

Draft report published on Annual Market Performance Review 2013

20 December 2013

The Reliability Panel (Panel) undertakes an annual market performance review (AMPR) which examines the performance of the National Electricity Market (NEM) in terms of reliability and security of the power system. The Panel’s draft report on the review of performance in the 2012-2013 financial year has been published. Consultation on this draft report closes on 31 January 2014.

Final report published on Advice to SCER on linking the reliability standard and reliability settings with VCR

20 December 2013

On 20 December 2013, the Australian Energy Market Commission (AEMC) published its final advice to the Standing Council on Energy and Resources (SCER) on linking the reliability standard and reliability settings in the wholesale electricity market with a value of customer reliability (VCR).

The AEMC’s preferred approach is similar to the current process for determining the wholesale electricity market reliability standard and reliability settings. The key difference is the inclusion of a requirement for a VCR, estimated for the customers most affected by a supply shortfall, to be used as a cross-check on the reliability standard.

This approach provides for the level of supply reliability to customers from the generation and bulk-transmission sectors of the national electricity market (NEM) to broadly reflect the value that customers place on receiving a reliable supply of electricity.

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