On 23 June 2010, the AER published a guideline regarding significant price variations (SPVs). The guideline outlines what constitutes a SPV, and notes the AER’s responsibility of producing a gas day report when the triggers are met.
Both the trade weighted market price and the value of ancillary payments will be monitored by the AER to fulfil this reporting function, which was previously held by VENCorp.
The guideline was produced after consultation with various stakeholders including energy companies and the Australian Energy Market Operator. The AER expects the reports will be of interest to a wide range of parties including existing market participants, participants considering entering the market, policy makers, energy analysts and consumer groups.