RRO triggered in NSW

Share on twitter
Share on linkedin
Share on facebook

The AER has accepted a recommendation from AEMO and has made the T-3 reliability instrument triggering the Retailer Reliability Obligation (RRO).

In making this decision the AER considered if AEMO’s reliability forecast contained any material errors in either calculation or input data, or inaccurate assumptions that materially impact the forecast reliability gap. The AER also considered if AEMO had used reasonable endeavours to prepare the reliability forecast in accordance with the AER’s Forecasting Best Practice Guidelines. No material errors or inaccurate assumptions were identified by the AER and as such it made the reliability instrument.

The reliability instrument applies during weekdays from 1 January to 29 February 2024, for the trading periods between 3 PM and 8 PM AEST. What this means is that liable entities in NSW should consider their forward positions and ensure that they are able to meet their liability during those periods. In support of liable entities, MLO generators in NSW (AGL, Origin and Snowy Hydro) will be required to offer MLO products on the ASX to ensure that liable entities can meet their liability.

You can read more about the RRO on our website and if you have any questions please get in touch. You can read more about the AER’s decision here.

More to explorer

Male stockbroker in formal clothes works in the office with financial market

ASIC’s report on regulatory technology

The Australian Securities and Investment Commission (ASIC) has published a report (Report 685) on ASIC’s Regtech initiatives during 2019-2020. We’ve spoken previously about the benefits of advanced software when it comes to regulatory compliance. Compliance processes are generally complex. They have many moving parts, and the amount of time and money required to enact processes can be high. Compliance management systems such as the Compliance HUB can simplify these processes and save a business both time and money. The ultimate

Should Your Business Invest in a Compliance Management System?

Businesses around the world face challenges in managing regulatory compliance. Compliance requirements and the regulatory environment are constantly changing and there is no ‘one-size-fits-all’ solution. Companies are constantly faced with a balancing act between the risk of not complying with rules and the cost of having to comply with the rules. Companies are not the only ones that are affected by these challenges. They have a huge impact on the public sector and the general public. When it comes to

4 Months not prompt enough to fix customers’ meters

For the failure to promptly fix meters, the AER has issued eight infringement notices which led three AGL retailers to pay a total of 160,000 in penalties. Each infringement notice cost the AGL entities $20,000. The infringement notices were issued as the AER found that there were sufficient grounds to believe that there was a breach of clause 11.87.7(h) of the National Electricity Rules (NER). The provision requires that a ‘financially responsible Market Participant’ receiving a notice of a metering

Leave a Reply

Your email address will not be published. Required fields are marked *