Market Review: Open

Overview

On 30 June 2022 the Australian Energy Market Commission (AEMC) Reliability Panel (the Panel) commenced a review of the Guidelines for identifying reviewable operating incidents (the guidelines). The Draft report and guidelines set out the Panel’s proposed changes to the guidelines. Stakeholders are encouraged to provide input by Thursday 28 July 2022.
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On 30 June 2022 the Australian Energy Market Commission (AEMC) Reliability Panel (the Panel) commenced a review of the Guidelines for identifying reviewable operating incidents (the guidelines). The Draft report and guidelines set out the Panel’s proposed changes to the guidelines. Stakeholders are encouraged to provide input by Thursday 28 July 2022.

In March 2022, the Australian Energy Market Operator (AEMO) sent a letter to the Chair of the Reliability Panel outlining five proposed changes to the guidelines. 
The Panel commenced a review of the guidelines as it considered AEMO's proposals were justified for further consideration and that the guidelines may require updating since their last review in 2012.

In addition to AEMO’s proposed changes, the Panel has identified several additional issues that will also be included in the scope of the review:

The AEMC issued terms of reference to the Panel on 30 March that requested the review be completed by 31 August. As a result of the expanded review scope, the Panel requested the AEMC extend the review by 4 weeks to provide time to seek feedback from AEMO and form final positions on these issues. The AEMC’s approval  of the extended timeline for the review can be found on this page. 

Background

Under the National Electricity Rules (NER), AEMO is required to review serious power system security incidents ‘reviewable operating incidents’ and publicly report its findings. 

Reviewable operating incidents are sufficiently serious to be ‘significant’ events on the power system that impact system security. The NER set out criteria to determine which operating incidents are 'reviewable'.

The Panel is responsible for publishing the reviewable operating incident guidelines that are used by AEMO to determine when a power system security incident is considered a 'reviewable operating incident'. The guidelines provide additional details and criteria for AEMO to apply when determining whether a security event is reviewable under the NER. 

AEMO’s reviewable operating incident reports provide highly valuable information to policymakers, market bodies, market participants, jurisdictions, and the Panel to understand system security risks in the NEM. These reports also provide an opportunity for AEMO to evaluate procedures, systems, and responses to such events and any potential improvements that could be made following a reviewable operating incident.  
 

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