Australian electricity and gas markets – October 2023 Update
02 November 2023
02 November 2023
On 5 October 2023, the Australian Energy Market Commission (AEMC) published that a draft determination for the Enhancing Reserve Information rule change (formerly Operating Reserves) will be delivered by 14 December 2023. The extension allows more time to consult with stakeholders in response to issues raised in submissions to the directions paper.
On 12 October 2023, the AEMC published that:
On 23 October 2032, the Australian Energy Regulator (AER) published a Directions Paper on social licence for electricity transmission projects. The paper sets out the current approach to social licence issues and covers how transmission networks may appropriately address social licence under the regulatory framework.
On 26 October 2023, the AEMC applied the new emissions reduction amendments in the national energy laws to the energy rules, as a way of providing clarity and investment certainty to enable the transition to net zero. The draft rules are set out in a draft determination for stakeholder consultation, following rule change requests from energy ministers to ‘harmonise’ or align the electricity and gas rules with recent changes to the law, so that energy market bodies and networks can explicitly consider emissions reduction in their decision making.
On 5 October 2023, the AER released the issues paper for the default market offer (DMO) for 2024-2025. The DMO is a maximum price that retailers can charge electricity customers on standing offer contracts.
No gas rule change requests were initiated in October. No AEMC determinations relevant to the National Gas Rules were published.
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Authors: Andre Dauwalder, Counsel; Nikita Summers, Graduate.