This month we have seen a large number of electricity industry developments and initiatives by the National Electricity Market regulator, operator and rule maker.
In particular, we have seen initiatives by the AEMC and AEMO focussing on reliability and planning. This includes:
- the AEMC’s consultation on its review of the regulatory and market frameworks needed to support a reliable supply of electricity
- the AEMC’s consultation on ways to improve coordination between transmission and distribution network investment planning
- the AEMC’s expansion of the National Electricity Rules to allow more participants in market ancillary services
- AEMO’s initiative to investigate whether a wind farm can provide important power system stability services, which will inform future policy
Also of interest this month is the proposed AEMC rule change to help promote “behind the meter” energy generation and storage initiatives.
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IBOR reform or LIBOR replacement represents one of the biggest changes to the financial services industry and impacts on all businesses that deal with it.