The AER’s Compliance and Enforcement Statement of Approach sets out our compliance and enforcement strategy in wholesale energy markets.
Our strategy includes:
- market monitoring to identify compliance issues
- targeted compliance reviews of a range of provisions to identify how participants comply with their obligations
- general audits of compliance with certain provisions, including in response to market events or inquiries that raise compliance concerns
- strategic projects that focus on longer term harms or risks, supported by metrics to measure our effectiveness
- exception reporting, where regulated entities track and notify us of their own breaches
- audits of compliance programs for technical performance standards
- forums and other meetings with industry participants to discuss our approach to compliance
- publication of wholesale market compliance reports (summarising our compliance activities) and compliance bulletins (when additional guidance on the rules is warranted).
A range of wholesale compliance reports are published.