Compliance Bulletin No 3 - Monitoring and enforcing compliance of electricity offer, bid and rebid information

Sector: 
Segment: 
Category: 
Compliance bulletin
Release date: 
4 June 2012

Overview

The Australian Energy Regulator (AER) aims to work co-operatively with National Electricity Market (NEM) participants to help them understand their obligations under the national energy framework and to help them achieve high levels of compliance.

The purpose of this compliance bulletin is to explain the process that the AER applies when monitoring and enforcing compliance with the National Electricity Rules (Electricity Rules) relating to bid and rebid information. Chapter 3 of the Electricity Rules establishes a process which allows participants to adjust their commercial positions in response to changing events or market conditions.  This includes allowing participants to amend their offers, bids or rebids in response to changes in the technical capabilities of their plant; for instance, due to equipment failure. The Electricity Rules set out a number of conditions that must be met by relevant participants in the NEM when submitting offers, bids or rebids, including providing certain information (for example, clauses 3.8.3A, 3.8.7A, 3.8.19 and 3.8.22(c)).

This Compliance Bulletin was updated on 4 June 2012 to clarify the AER's approach to administering the three-stage process with respect to portfolio rebidding of generation assets.