Rule Change: Completed

Overview

The Australian Energy Market Commission (Commission) has made a rule which delays by one hour the time at which a call notice issued by the Australian Energy Market Operator (AEMO) is taken to have been issued on the next business day.
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<p>
<span style="color: rgb(0, 0, 0); font-family: sans-serif; font-size: 13px; line-height: 16.847999572753906px;">The Australian Energy Market Commission (Commission) has made a rule which delays by one hour the time at which a call notice issued by the Australian Energy Market Operator (AEMO) is taken to have been issued on the next business day.</span></p>
<p>
The Commission has made the rule as proposed by AEMO in its rule change request. The rule as made will commence on 1 July 2014.</p>
<p>
The Commission is satisfied that the rule as made will, or is likely to, contribute to the achievement of the National Electricity Objective (NEO) because:</p>
<ul>
<li style="margin-left: 36pt;">
it is likely to reduce the risk that a call notice is issued because a market participant is experiencing administrative rather than financial issues, without impacting the level of risk of a market participant accruing significant liabilities before it is suspended from trading in the NEM; and</li>
<li style="margin-left: 36pt;">
it is likely to reduce the costs for AEMO and market participants associated with managing the prudential requirements in the NEM.</li>
</ul>
<p>
The Commission&rsquo;s consideration of the rule change request proceeded on an expedited basis. A consultation paper was published on 1 May 2014 and submissions closed on 29 May 2014. One submission was received regarding the rule change request, which is available on our website.&nbsp;</p>

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Documentation

INITIATION

AEMC Documents

Submissions on Consultation Paper