The Reliability Panel (Panel) completed its review and determined a revised set of guidelines.

The Panel is responsible, under clause 8.8.1 of the National Electricity Rules, for determining policies and guidelines governing NEMMCO’s exercise of its power to enter into contracts for the provision of reserves.

NEMMCO’s powers in this regard cease on 30 June 2006 and the question of appropriate arrangements beyond that date will be considered by the Panel as part of its upcoming work program. Earlier this year, under the previous governance arrangements, the Panel commenced a review of the existing guidelines. The review was limited to fine tuning the guidelines in time for implementation ahead of any potential requirement in the 2005-06 summer. Frontier Economics was engaged to assist the Panel as part of its review.