Market liquidity obligation

The Market Liquidity Obligation (MLO) is a market making requirement designed to facilitate transparency and liquidity in the trading of electricity futures contracts relating to a forecast reliability gap. The MLO commences when the Retailer Reliability Obligation (RRO) is triggered and provides a source of qualifying contracts for liable entities to purchase to help meet their RRO contracting requirements.

Initial MLO generators and MLO Groups were determined in transitional rules made up until 30 June 2021 to implement the RRO. Subsequent MLO determinations and variations are made by the AER in accordance with the MLO Guidelines.

MLO information template

To facilitate the development of the MLO register, the National Electricity Rules require the AER to publish a MLO information template by 31 October 2020. The MLO information template specifies information that must be provided by each Market Generator to inform the AER’s determination of MLO Generators and MLO Groups for each participating region from 1 July 2021. All Market Generators with scheduled generating units are required to provide this information by 31 January 2021.

Market Generators are required to download the MLO information template and provide the information set out for all scheduled generation units. For any assistance required please email

Please note, the AER is currently developing an online portal to manage multiple processes for the RRO. The new portal is expected to be available later this year. Once available, Market Generators will be able enter the information required by the template using the portal as an alternative to completing the template. The AER intends to transition the management of the MLO register, including all future updates to portfolios by market participants, using the online portal.

AER Market Liquidity Obligation (MLO) Information Template - October 2020 ( XLSM 76.64 KB )