14KAER may make reliability instrument for a region

14K AER may make reliability instrument for a region

14K AER may make reliability instrument for a region

(1) This section applies if—

(a) AEMO makes a request under section 14I in relation to a forecast reliability gap for a region; and

(b) where AEMO’s request is for a T-1 reliability instrument for the region, 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 for the region.

(2) The AER must, within the period required by the Rules—

(a) consider the request; and

(b) decide whether or not to make a reliability instrument for the region in relation to the forecast reliability gap.

(3) The AER may decide to make a reliability instrument only—

(a) if the AER is satisfied—

(i) a forecast reliability gap is forecast, in accordance with the Rules, to occur in the region; and

(ii) it is appropriate in the circumstances, having regard to the criteria stated in the Rules, to make the reliability instrument; and

(b) for the region, forecast reliability gap period and trading intervals as stated in AEMO’s request, without modification.

(4) A reliability instrument must state—

(a) the information mentioned in section 14I(4)(c), as stated in AEMO’s request; and

(b) for a T-1 reliability instrument—

(i) the day (the contract position day) on which liable entities are required under section 14R to hold a sufficient net contract position for the reliability gap period; and

(ii) the day (the reporting day) on which liable entities must report their net contract position as at the contract position day under section 14P.

(5) The reliability instrument takes effect when it is published on the AER’s website.

(6) The AER must publish its decision to make or refuse to make a reliability instrument, and the reasons for the decision, on the AER’s website before—