14JAMinister may make T-3 reliability instrument

14JA Minister may make T-3 reliability instrument

14JA Minister may make T-3 reliability instrument

(1) Subject to this section, a Minister of a participating jurisdiction may make a T-3 reliability instrument for a region if—

(a) the geographical area of the participating jurisdiction constitutes the whole or a part of the region; and

(b) it appears to the Minister, on reasonable grounds, that there is a real risk during a period specified in the instrument (a Ministerial reliability gap period) that the supply of electricity to all or part of the region may be disrupted to a significant degree (a Ministerial reliability gap) on 1 or more occasions during the Ministerial reliability gap period.

(2) Before making a T-3 reliability instrument under subsection (1), the Minister must consult with AEMO and the AER in relation to the instrument the Minister proposes to make.

(3) The regulations under the application Act of a participating jurisdiction (a local regulation) may provide for requirements (including procedures and any methodology) that must be complied with by the Minister in determining whether there is a real risk that the supply of electricity to all or part of a region may be disrupted to a significant degree.

(4) A T-3 reliability instrument under subsection (1) must state—

(a) the date on which it takes effect; and

(b) the region to which it applies; and

(c) the first and last days of the Ministerial reliability gap period; and

(d) the trading intervals during the Ministerial 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 Ministerial reliability gap period; and

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

(5) A Minister of a participating jurisdiction may vary or revoke a T-3 reliability instrument made by the Minister under subsection (1).

(6) As soon as practicable after making or varying a T-3 reliability instrument under this section, the relevant Minister must—

(a) publish a copy of the instrument or variation in accordance with any requirements of the local regulations; and