14IAEMO must request reliability instrument

14I AEMO must request reliability instrument

14I AEMO must request reliability instrument

(1) This section applies if—

(a) AEMO is satisfied a forecast reliability gap is forecast to occur in a region; and

(b) AEMO has published the information about the forecast that AEMO is required to publish under section 14F(b).

(2) Subject to subsection (3), AEMO must request the AER to consider making a reliability instrument for the region in relation to the forecast reliability gap.

(3) AEMO must make a request under subsection (2) for a T-1 reliability instrument for a region only if the AER has made a related T-3 reliability instrument or the Minister of the participating jurisdiction in which the region is located has made a related T-3 reliability instrument.

(4) A request under subsection (2)—

(a) is made by giving a written notice about the request to the AER; and

(b) must be made within the period required by the Rules; and

(c) must state the following information about the forecast reliability gap—

(i) the region in which the forecast reliability gap is forecast to occur;

(ii) the first and last days of the forecast reliability gap period;

(iii) for a request for a T-3 reliability instrument—the trading intervals, during the forecast reliability gap period, for which liable entities may be required to hold net contract positions that are sufficient to meet their share of the one-in-two year peak demand forecast for the forecast reliability gap period;

Example—

The trading intervals between 4pm and 8pm each weekday during the forecast reliability gap.

(iv) for a request for a T-1 reliability instrument—the trading intervals, during the forecast reliability gap period, for which liable entities will be required to hold net contract positions that are sufficient to meet their share of the one-in-two year peak demand forecast for the forecast reliability gap period if the T-1 reliability instrument is made;

Example

The trading intervals between 4pm and 8pm each weekday during the forecast reliability gap.

(v) AEMO’s one-in-two year peak demand forecast for the forecast reliability gap period.