Today the Australian Energy Regulator (AER) published Compliance Bulletin No 3 “Monitoring and enforcing compliance of electricity offer, bid and rebid information in the National Electricity Market” (the compliance bulletin).
As a result of ongoing issues with the quality of offer, bid and rebid information submitted by participants, the AER has adopted a three stage process for enforcing compliance with the relevant provisions of the National Electricity Rules. Relevant participants that submit offer, bid and/or rebid information that does not appear to meet the requirements of the Rules will receive two warnings. If it happens again on a third occasion within a defined period, the AER will consider issuing an infringement notice.
The three stage process will take effect on 1 March 2011. The AER encourages relevant participants to review their offer, bid and rebid procedures to ensure that they meet the requirements of the Electricity Rules.
A copy of the compliance bulletin is available on the AER website.
The AER has also published an updated version of its Compliance and Enforcement Statement of Approach which reflects the compliance bulletin.