The Australian Energy Market Commission today invited stakeholder submissions on its draft rule determination relating to 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 draft rule determination seeks to improve the effectiveness of compensation arrangements by changing the National Electricity Rules in relation to the purpose of compensation, rules around the eligibility for compensation, the claim assessment process and the cost recovery process.

If made, these changes would enhance the reliability of electricity supply, increase transparency and reduce administration costs of the assessment process, and contribute to efficient recovery of compensation costs from customers.

Stakeholder feedback is sought on the draft rule determination and draft rule, which were released today. Submissions are due by Thursday 24 September 2015.