The Australian Energy Market Commission (AEMC) acknowledges the decision by the Australian Energy Market Operator (AEMO) to suspend the spot market in all regions of the National Electricity Market (NEM) from 14:05 AEST on 15 June, under the National Electricity Rules (Rules).
The AEMC notes the market operator will apply a pre-determined suspension pricing schedule for each NEM region. A compensation regime applies for eligible generators who supply energy during suspension price periods.
The Rules still apply during periods of market suspension, as they do during all other system and market conditions.
The AEMC is committed to processing compensation claims for losses during the administered pricing periods which ended on Wednesday 15 June.
We will continue to work collaboratively with market bodies, industry representatives, and governments during this time.
The explicit focus of the AEMC is on the long-term interests of energy consumers in accordance with the National Energy Objectives.
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