Minister for Energy can Require Energy Retailers to Contract Sufficient Supply Three Years in Advance (If There is a Predicted Shortfall)
National Electricity (South Australia) (Ministerial Reliability Instrument) Amendment
1st House
2nd House
Law
Effects of Bill:
This bill being passed means that:
The South Australian Minister can issue a T-3 reliability instrument if there is a reasonable expectation that electricity supply will be insufficient during a future period. This decision must be based on consultations with the Australian Energy Market Operator (AEMO) and the Australian Energy Regulator (AER). T-3 refers to Time minus 3 Years as the T-3 Instrument must be activated 3 years before the expected shortfall begins
The T-3 reliability instrument must specify: The affected region of the National Electricity Market (NEM). The time period during which a shortfall is anticipated. \r\n The trading intervals during which retailers must hold sufficient electricity contracts to meet expected peak demand. The AEMO forecast for peak demand
Once the instrument is made, it must be published in the Government Gazette, and it takes effect immediately. The instrument must be issued at least three years before the anticipated reliability gap period starts
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