The Australian Energy Market Commission (AEMC) today released an updated version of the National Electricity Rules incorporating the first Rule changes made by the Commission since it started operations in July 2005.
This step forward for the National Electricity Market follows final determinations on two Rule changes finalised by the AEMC at the close of 2005;
- Revision to dispatch pricing due to manifestly incorrect inputs
This Rule change allows limited corrections to be made by the National Electricity Market Management Company Limited (NEMMCO) to spot market energy and ancillary service prices, where those price outcomes are based on manifestly incorrect inputs to the wholesale market dispatch algorithm. Before this change to the Rules there was no provision for the correction of such pricing errors, allowing them to flow through to the spot market settlement process, and to persist as market price signals.
This amending Rule takes effect from 1 June 2006.
- Publication of information for non-scheduled generation
This Rule change reflects the Commission’s view that recent increases in wind power based, non-scheduled, generation has introduced a greater level of uncertainty for market participants in their capacity to anticipate demand for scheduled generation. This Rule change requires the National Electricity Market Management Company Limited (NEMMCO) to publish forecast and historical information in relation to non-scheduled generation. This will improve the efficiency of decision-making by market participants and contribute to the more effective performance of energy markets.
Some aspects of this amending Rule will take effect from 12 January 2006.
The remaining aspects will take effect from 1 July 2006.
Today’s release of Version 2 of the Rules incorporates changes made by the commenced parts of the Rule on Publication of information for non-scheduled generation. Those parts of the amending Rules that are not commenced will be incorporated into the consolidated Rules when they take effect in June and July 2006.
The AEMC is currently developing an interactive, electronic database for the Rules. The database will include;
- A consolidated, up to date version of the Rules with search and navigation facility
- Copies of superseded versions of the Rules
- The full text of all amending Rules
- Historical and other information on the Rules.
For information contact
AEMC Public Affairs, Prue Anderson (02) 8296 7800 or 0404 821 93