14RObligation to have contracted sufficiently for one-in-two year peak demand forecast

14R Obligation to have contracted sufficiently for one-in-two year peak demand forecast

14R Obligation to have contracted sufficiently for one-in-two year peak demand forecast

(1) This section applies if the peak demand is more than the one-in-two year peak demand forecast for the reliability gap period during a stated trading interval in the reliability gap period.

(2) The liable entity must comply with the obligation that the liable entity’s net contract position for the trading interval is not less than the liable entity’s share of the one-in-two year peak demand forecast for the trading interval determined in accordance with the Rules.

Note—

Subsection (2) is a reliability obligation civil penalty provision: See the definition of “reliability obligation civil penalty provision” in section 2AA(1a).

(3) For subsection (2), the liable entity’s net contract position for a trading interval is—

(a) if the liable entity has adjusted its net contract position under the Rules—the liable entity’s net contract position for the trading interval as at the day provided under the Rules; or

(b) otherwise—the liable entity’s net contract position for the trading interval as at the contract position day.

s 14R: Ins 2019 No 10, sec 7.