The Australian Energy Market Commission today issued a notice to extend the period of time for making a final rule determination until 4 February 2015 for the COAG Energy Council rule change request to revise the compensation arrangements for market participants following the application of an administered price cap and administered floor price.
The reason for the extension is the first ever application of an administered price cap in an ancillary service market in the National Electricity Market, which occurred in October 2015. This relates to the decision in the draft rule determination around the eligibility of ancillary services providers to claim compensation following the application of such a price cap.
On 26 November 2015, the AEMC will publish a paper for additional consultation on specific issues relating to eligibility for ancillary service providers to claim compensation. Submissions on this paper are due by 10 December 2015.