14TAEMO may recover costs for procurer of last resort function

14T AEMO may recover costs for procurer of last resort function

14T AEMO may recover costs for procurer of last resort function

(1) The Rules may provide for a cost recovery scheme that allows AEMO to recover the costs AEMO incurs as the procurer of last resort for a region.

(2) AEMO is the procurer of last resort for a region if—

(a) a T-1 reliability instrument is made for a forecast reliability gap in a region; and

(b) AEMO performs its function under the Rules of entering into contracts to secure the availability of electricity reserves in relation to the reliability gap period stated in the instrument in the region.

(3) The cost recovery scheme under the Rules may provide for AEMO to recover the costs from the liable entities for the region who breach section 14R(2) or an obligation under the Rules mentioned in section 14S during the reliability gap period.

(4) However, a liable entity is not liable to more than $100 000 000 under the cost recovery scheme in relation to a reliability gap period in a region.

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