Rule Changes: Completed

Changes to periodic review of market parameters in STTM

Reference:
GRC0042
Proponents:
AEMO
Decision:
Rule made
Amending rule:
4
Commenced:
10-Oct-2017
Amending chapters:
1, 18, 20, 9
Rule version:
35
Other rule versions:

Overview

On 10 October 2017 the AEMC determined to make a more preferable rule that aligns the periodic review of market parameters for the gas short term trading market (STTM) with the national electricity market (NEM) reliability standard and settings review.

On 10 October 2017 the AEMC determined to make a more preferable rule that aligns the periodic review of market parameters for the gas short term trading market (STTM) with the national electricity market (NEM) reliability standard and settings review.

The final rule commences and comes into effect on the date it is published, 10 October 2017.

Background

On 12 July 2017 the AEMC received a rule change request from AEMO to amend the National Gas Rules. The rule change request sought to allow the periodic review of market parameters for the STTM to be conducted at the same time as the NEM reliability standard and settings review.

The increased interconnection of gas and electricity markets was a key driver for this rule change. AEMO has stated that parameters in gas markets are best analysed taking into account current considerations in inter-related markets.

Consultation

A consultation paper was published on 29 August 2017 to facilitate discussion on the rule change request. Submissions closed on 26 September 2017. Two submissions to the consultation paper were received and are available below.

The AEMC considered that the rule change request should be subject to the expedited rule making process. Written objections to the expedited process closed on 12 September 2017. No objections were received.

 

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