Rule Change: Open

Overview

This rule change request from the Victorian Minister for Energy Environment and Climate Change proposes to: 
View more

This rule change request from the Victorian Minister for Energy Environment and Climate Change proposes to: 

  1.  Introduce separate, tradable entry and exit AMDQ rights
  2. Introduce an exchange to improve secondary trading of AMDQ rights (permanent transfer) and benefits (temporary transfer)
  3. Make AMDQ available for a range of different tenures.

The proposed changes are expected to reduce the complexity of the AMDQ regime and make it easier for participants to secure and trade AMDQ rights. 

Consultation process

On 14 March 2019 the AEMC published a consultation paper on the rule change request. Eleven submissions were received, which can be found below. 

The AEMC also held a stakeholder workshop in Melbourne on 16 May 2019 with extensive participation from a wide range of participants. Slides from the workshop are available below.

Extension

On 13 June 2019 the Commission published a notice under s. 317 of the NGL to extend the publication date of the draft determination to 5 September 2019. The Commission considers that this extension is necessary due to the complexity of the issues raised in the rule change request.

Background

On 5 November 2018, the AEMC received three rule change requests from the Victorian Minister for Energy Environment and Climate Change to amend the National Gas Rules (NGR). The rule change requests proposed the following changes:

  • introduce a simple wholesale gas price for the DWGM in Victoria (DWGM Simpler wholesale price)
  • establish a forward trading exchange which will make it easier for buyers and sellers to trade gas and lock in a future price in the Victorian gas market (DWGM Forward trading market)
  • improve the allocation and trading of pipeline capacity rights (DWGM Improvement to AMDQ regime).

These requests were based on recommendations made by the AEMC in June 2017, as part of the Review of the Victorian declared wholesale gas market final report (DWGM Review)

View less

Documentation