COAG Consultation Regulation Impact Statement – Australian Energy Market Commission
On 4 February 2021, the Australian Energy Market Commission (AEMC) published a draft determination and rule titled National Electricity Amendment (Implementing a general power system risk review) Rule 2021.
The draft rule proposes to implement an annual general power system risk review (GPSRR) in which the Australian Energy Market Operator (AEMO) would identify and assess risks to power system security associated with five key risk areas, in collaboration with Network Service Providers (NSPs). The draft rule would require AEMO to complete the first GPSRR within 18 months of the rule commencing.
The AEMC believes this would increase the transparency of emerging system security risks that may need to be managed, helping AEMO, NSPs and market participants better understand the nature of the new risks as they emerge.
The draft National Electricity Amendment (Implementing a general power system risk review) Rule 2021 has been assessed by the Office of Best Practice Regulation as compliant with requirements for a Council of Australian Governments Consultation RIS.
The AEMC is accepting submissions on this draft rule determination until 18 March 2021. A final rule is expected to be published in April 2021.
Please note: any accessibility queries should be directed to the Australian Energy Market Commission.