Australian electricity and gas markets – April 2024 Update
09 May 2024
On 28 March 2024, the Australian Energy Market Commission (AEMC) released its final determination and final rule on its Improving security frameworks for the energy transition rule change. The new rule:
On 4 April 2024, the AEMC released a draft determination and draft rule on its Accelerating smart meter deployment rule change. The new rule:
Stakeholders must respond to the draft rule change by 30 May 2024.
Also on 4 April 2024, the AEMC received a rule change request from AEMO to amend the National Electricity Rules (NER) to improve the technical requirements for the NEM access standards. AEMO has made both a request under the AEMC's fast track rule change process, and under the standard rule change process. The rule change is currently pending with the AEMC yet to publish a consultation paper. For more information see here.
On 11 April 2024, the AEMC initiated its Minor changes 1 2024 rule change, publishing a consultation paper. The rule change seeks to correct minor errors and make non-material changes to the NER. The AEMC is seeking stakeholder responses to the proposed rule change by 9 May 2024.
On 18 April 2024, the AEMC announced it will fast track the Managing ISP project uncertainty through targeted ex post reviews rule change. Stakeholders will have an opportunity to respond to the draft determination and draft rule once published in May 2024.
On 4 April 2024, the AEMC released a draft determination and draft rule on its Accelerating smart meter deployment rule change. This rule change amends the National Energy Retail Rules (NERR) to:
Stakeholders must respond to the draft rule change by 30 May 2024.
On 11 April 2024, the AEMC initiated its Minor changes 1 2024 rule change, publishing a consultation paper. The rule change seeks to correct minor errors and make non-material changes to the NERR. The AEMC invites submissions on the consultation paper by 9 May 2024.
On 11 April 2024, the AEMC published a consultation paper and initiated its Minor changes 1 2024 rule change. The rule change seeks to correct minor errors and make non-material changes to the NGR. The AEMC invites stakeholders to respond to the proposed rule change by 9 May 2024.
On 5 April 2024, the Energy and Climate Change Ministerial Council (ECMC) released its Response to the Review of the Integrated System Plan report, along with a statement on the Integrated System Plan policy direction. The Energy Ministers have considered the review of AEMO's Integrated System Plan (ISP) and accepted its 15 recommendations.
Also on 5 April 2024, the Australian Energy Regulator (AER) released its Annual Information Orders for 2024 – 2028. The orders impose annual reporting obligations on regulated electricity networks and are made by the AER using its information gathering powers under the National Electricity Law. The information orders apply to:
On 23 April 2024, the Department of Climate Change, Energy, the Environment and Water released official estimates of Australia's electricity generation in 2022-23 and calendar year 2023 to support decision making. The full statistics will be published in late 2024. For more information see here.
Authors: Dale Gill, Partner; Andre Dauwalder, Counsel; Alexandria Brown, Lawyer; Murray Rissik, Graduate; and Ethan Low, Paralegal.
The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to.
Readers should take legal advice before applying it to specific issues or transactions.