The AEMC has made a rule that streamlines the process of consultation required to make changes to the Short Term Trading Market Interface Protocol (STTM Interface Protocol).

Under the final rule, market participants will be able to engage AEMO more effectively in its decision-making process and any cost savings seen as a result of the streamlined approach will ultimately be passed onto customers.

The final rule will commence on 28 November 2019.

Background

The STTM is a market for the trading of natural gas at the wholesale level at three defined hubs — Sydney, Adelaide and Brisbane. 

The Australian Energy Market Operator (AEMO) is responsible for the formal market procedures (STTM Procedures) that cover matters of a technical and procedural nature. This includes establishing the STTM Interface Protocol to govern the provision of communication in the market between market participants and also with AEMO in the market.  Changes to the STTM Protocol and Procedures are currently consulted on under different processes.

AEMO's rule change request sought to amend the National Gas Rules so that the processes of consultation for the STTM Interface Protocol would be the same as the consultation process for changes to the STTM Procedures.

The Australian Energy Market Commission (AEMC) considered that the rule change request should be subject to the expedited rule making process. Written objections to the expedited process closed on 10 October 2019. No objections were received. 

Submissions to the rule change request were due on 24 October 2019. No submissions were received.