Today the Australian Energy Regulator (AER) has published an amended compliance bulletin.
Chapter 4 of the National Electricity Rules (Rules) provides the framework for achieving and maintaining a secure power system. The requirements for participants to follow dispatch instructions issued by the Australian Energy Market Operator and to ensure their offers or bids accurately represent their capabilities are essential to the secure operation of the power system.
The amended compliance bulletin informs market participants of the AER’s approach when monitoring and enforcing compliance with obligations relating to dispatch instructions, offers and bids. The amended compliance bulletin has a broader focus than our original 2006 compliance bulletin, takes into account the AER’s Compliance and Enforcement — Statement of Approach and incorporates the outcomes of a related Federal Court decision.
Despite its broader focus, the amended compliance bulletin does not represent a change in the AER’s approach to enforcement of clause 4.9.8 of the Rules. We have amended this compliance bulletin because we believe there is value in clarifying our approach to monitoring compliance with, and enforcement of, these provisions to provide greater certainty and predictability for market participants and reduce compliance costs.